Bancorp (NASDAQ:TBBK) Stock Rating Upgraded by StockNews.com

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

TBBK has been the topic of a number of other research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. Piper Sandler raised their target price on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Bancorp Trading Up 0.4 %

Shares of TBBK stock opened at $59.05 on Monday. The stock’s fifty day moving average is $54.14 and its two-hundred day moving average is $46.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The firm has a market capitalization of $2.83 billion, a P/E ratio of 14.91 and a beta of 1.46. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $61.17.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The firm had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same quarter in the previous year, the business posted $0.92 EPS. Research analysts expect that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bancorp news, Director Matthew Cohn acquired 545 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the transaction, the director now owns 56,636 shares of the company’s stock, valued at $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the sale, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 in the last three months. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of TBBK. Nantahala Capital Management LLC acquired a new stake in shares of Bancorp during the 2nd quarter worth about $12,757,000. Franklin Resources Inc. grew its position in Bancorp by 18.6% in the 3rd 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. Lisanti Capital Growth LLC acquired a new position in Bancorp in the 3rd quarter valued at about $6,100,000. Marshall Wace LLP grew its position in Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after acquiring an additional 96,072 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock valued at $12,739,000 after acquiring an additional 70,768 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

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.