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

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

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

Bancorp Stock Performance

NASDAQ TBBK opened at $55.17 on Friday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.93 and a beta of 1.46. 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 $59.46. The stock has a fifty day simple moving average of $52.95 and a 200 day simple moving average of $45.07.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The company had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same period in the previous year, the company posted $0.92 EPS. Sell-side analysts expect that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling at Bancorp

In other news, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction dated 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 owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the transaction, the executive vice president now directly owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently added to or reduced their stakes in TBBK. Vanguard Group Inc. lifted its holdings in shares of Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after purchasing an additional 16,482 shares in the last quarter. American Century Companies Inc. lifted its stake 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 buying an additional 70,178 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after buying an additional 6,459 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Bancorp by 11.6% during the second 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 in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Bancorp by 7.0% in the 2nd 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 and hedge funds 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.