Bancorp (NASDAQ:TBBK) Hits New 12-Month High – Should You Buy?

The Bancorp, Inc. (NASDAQ:TBBK) hit a new 52-week high on Monday . The stock traded as high as $65.84 and last traded at $61.35, with a volume of 17088 shares trading hands. The stock had previously closed at $61.66.

Wall Street Analyst Weigh In

TBBK has been the subject of a number of analyst reports. Raymond James reiterated an “outperform” rating and set a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Finally, Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

Bancorp Stock Performance

The company’s 50 day simple moving average is $55.64 and its 200 day simple moving average is $53.48. The stock has a market cap of $3.00 billion, a PE ratio of 14.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently modified their holdings of TBBK. American Century Companies Inc. boosted its position in Bancorp by 35.9% during the fourth quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank’s stock worth $125,971,000 after purchasing an additional 631,744 shares during the period. Geode Capital Management LLC grew its stake in Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after acquiring an additional 6,459 shares in the last quarter. Franklin Resources Inc. grew its stake in Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after acquiring an additional 144,867 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new stake in Bancorp in the 4th quarter worth approximately $17,692,000. Institutional investors own 96.22% of the company’s stock.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.