The Bancorp, Inc. (NASDAQ:TBBK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The Bancorp, Inc. (NASDAQ:TBBK) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $59.50.

TBBK has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research report on Friday, March 27th. Bank of America set a $60.00 price objective on shares of Bancorp in a research report on Wednesday, January 21st. Piper Sandler initiated coverage on shares of Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price objective on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. Finally, Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Matthew Cohn acquired 680 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average price of $62.14 per share, with a total value of $42,255.20. Following the completion of the transaction, the director directly owned 3,655 shares in the company, valued at $227,121.70. This trade represents a 22.86% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dominic C. Canuso acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average cost of $60.54 per share, for a total transaction of $121,080.00. Following the transaction, the chief financial officer owned 16,169 shares of the company’s stock, valued at $978,871.26. This represents a 14.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 9,080 shares of company stock worth $548,933. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. Ameriprise Financial Inc. raised its position in Bancorp by 273.2% during the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after acquiring an additional 455,265 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in Bancorp by 148.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock worth $27,227,000 after acquiring an additional 241,058 shares in the last quarter. Nantahala Capital Management LLC raised its position in Bancorp by 25.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock worth $72,360,000 after acquiring an additional 219,351 shares in the last quarter. Penn Capital Management Company LLC bought a new stake in Bancorp during the third quarter worth $13,422,000. Finally, Epoch Investment Partners Inc. raised its position in Bancorp by 306.6% during the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock worth $15,672,000 after acquiring an additional 157,796 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Bancorp Stock Performance

Shares of TBBK opened at $56.45 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. Bancorp has a twelve month low of $40.68 and a twelve month high of $81.65. The firm’s 50 day moving average price is $56.27 and its two-hundred day moving average price is $64.90. The firm has a market cap of $2.38 billion, a P/E ratio of 11.47 and a beta of 1.28.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The business had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. On average, analysts forecast that Bancorp will post 5.31 EPS for the current fiscal year.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.