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

Bancorp (NASDAQ:TBBK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Piper Sandler lifted their target price on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd.

Bancorp Stock Performance

Bancorp stock opened at $53.58 on Friday. The firm has a fifty day simple moving average of $54.85 and a two-hundred day simple moving average of $49.81. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. Bancorp has a twelve month low of $29.92 and a twelve month high of $61.17. The company has a market capitalization of $2.57 billion, a PE ratio of 13.53 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last released its earnings results 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 during 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 period last year, the firm posted $0.92 EPS. Research analysts expect that Bancorp will post 4.3 EPS for the current year.

Insider Activity at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock worth $1,345,366 in the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TBBK. Nantahala Capital Management LLC bought a new stake in shares of Bancorp during the second quarter valued at approximately $12,757,000. JPMorgan Chase & Co. boosted its holdings in shares of Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after buying an additional 219,020 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Bancorp by 18.6% during the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after buying an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Bancorp in the 3rd quarter worth about $6,100,000. Finally, Marshall Wace LLP increased its stake in shares of Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after acquiring an additional 96,072 shares in the last quarter. 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.