Bancorp (NASDAQ:TBBK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bancorp (NASDAQ:TBBK) had its target price lifted by analysts at Piper Sandler from $61.00 to $64.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 20.05% from the company’s previous close.

Separately, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday.

Bancorp Stock Up 2.6 %

Shares of Bancorp stock opened at $53.31 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. Bancorp has a 1-year low of $29.92 and a 1-year high of $61.17. The business’s fifty day moving average price is $55.24 and its two-hundred day moving average price is $49.30. The company has a market capitalization of $2.56 billion, a P/E ratio of 13.46 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last issued 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 company had revenue of $125.84 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.92 earnings per share. As a group, research analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Transactions at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the sale, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Bancorp in the third quarter valued at approximately $54,000. GAMMA Investing LLC lifted its stake in shares of Bancorp by 42.4% in the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after buying an additional 327 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the period. Finally, National Bank of Canada FI acquired a new position in Bancorp in the 3rd quarter valued at $77,000. Institutional investors and hedge funds 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.