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

Bancorp (NASDAQ:TBBK) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

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

Bancorp Stock Performance

Shares of TBBK opened at $53.69 on Friday. Bancorp has a 52 week low of $29.92 and a 52 week high of $61.17. 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 stock has a 50 day moving average price of $54.75 and a two-hundred day moving average price of $50.61. The firm has a market capitalization of $2.57 billion, a P/E ratio of 13.56 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS 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 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 period in the previous year, the company posted $0.92 earnings per share. Equities analysts forecast that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the 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 directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This represents 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 worth $1,345,366 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Bancorp

Large investors have recently bought and sold shares of the company. Nantahala Capital Management LLC bought a new position in shares of Bancorp during the 2nd quarter worth $12,757,000. JPMorgan Chase & Co. boosted its position in Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares during the period. Franklin Resources Inc. increased its stake in shares of Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Bancorp in the third quarter worth about $6,100,000. Finally, Marshall Wace LLP raised its position in shares of Bancorp by 39.8% in the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after purchasing an additional 96,072 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

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.