Bancorp (NASDAQ:TBBK) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a report released on Monday morning.

Several other research firms also recently issued reports on TBBK. Raymond James upped their price objective on Bancorp from $42.00 to $50.00 and gave the company an outperform rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods cut their target price on shares of Bancorp from $52.00 to $46.00 and set an outperform rating on the stock in a research note on Friday, April 5th.

Bancorp Trading Up 4.4 %

Shares of NASDAQ:TBBK opened at $31.27 on Monday. The stock has a market cap of $1.63 billion, a PE ratio of 8.50 and a beta of 1.45. The business has a 50 day moving average of $35.24 and a 200-day moving average of $37.90. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. Bancorp has a 12-month low of $28.04 and a 12-month high of $47.11.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. Bancorp had a net margin of 39.94% and a return on equity of 26.32%. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, equities research analysts forecast that Bancorp will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stephanie B. Mudick acquired 2,000 shares of Bancorp stock in a transaction on Tuesday, March 12th. The stock was acquired at an average cost of $37.11 per share, with a total value of $74,220.00. Following the completion of the acquisition, the director now owns 31,584 shares in the company, valued at $1,172,082.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Stephanie B. Mudick acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average price of $37.11 per share, with a total value of $74,220.00. Following the acquisition, the director now owns 31,584 shares of the company’s stock, valued at approximately $1,172,082.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Cohn acquired 2,485 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $34.21 per share, with a total value of $85,011.85. Following the completion of the transaction, the director now directly owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its holdings in shares of Bancorp by 79.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 88,285 shares of the bank’s stock valued at $3,404,000 after purchasing an additional 38,961 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Bancorp by 45.9% in the 4th quarter. First Hawaiian Bank now owns 14,819 shares of the bank’s stock valued at $571,000 after purchasing an additional 4,664 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Bancorp by 89.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 127,192 shares of the bank’s stock valued at $4,904,000 after buying an additional 60,016 shares in the last quarter. Invesco Ltd. grew its holdings in Bancorp by 24.0% in the third quarter. Invesco Ltd. now owns 219,127 shares of the bank’s stock worth $7,560,000 after purchasing an additional 42,346 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Bancorp during the third quarter valued at $1,272,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Company Profile

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.