Bancorp (NASDAQ:TBBK) Rating Increased to Hold at 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 Friday.

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

Bancorp Stock Performance

NASDAQ TBBK traded up $0.93 during trading hours on Friday, reaching $55.17. The stock had a trading volume of 413,454 shares, compared to its average volume of 629,759. The stock has a market cap of $2.64 billion, a P/E ratio of 13.93 and a beta of 1.46. Bancorp has a 52-week low of $29.92 and a 52-week high of $59.46. The stock has a fifty day moving average of $52.95 and a 200 day moving average of $44.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for 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 last year, the business earned $0.92 EPS. Sell-side analysts predict that Bancorp will post 4.3 earnings per share for the current year.

Insider Transactions at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. The trade was a 6.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew Cohn acquired 545 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the transaction, the director now directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of hedge funds have recently modified their holdings of TBBK. Vanguard Group Inc. raised its stake in shares of Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock valued at $121,225,000 after acquiring an additional 16,482 shares during the last quarter. American Century Companies Inc. increased its position in shares of Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after acquiring an additional 70,178 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after purchasing an additional 6,459 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of Bancorp by 11.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after acquiring an additional 46,115 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

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.