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

Bancorp (NASDAQ:TBBK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Other analysts have also recently issued research reports about the stock. Piper Sandler raised their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note 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 report on Monday, July 29th.

Bancorp Stock Performance

NASDAQ TBBK opened at $58.83 on Monday. The firm has a 50-day moving average of $53.88 and a 200-day moving average of $46.19. 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 market cap of $2.82 billion, a PE ratio of 14.84 and a beta of 1.46. Bancorp has a 52-week low of $29.92 and a 52-week high of $61.17.

Bancorp (NASDAQ:TBBK) last posted 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 company had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter in the prior year, the business posted $0.92 EPS. On average, sell-side analysts anticipate that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction dated 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 directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Cohn bought 545 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the acquisition, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase 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 owned by company insiders.

Hedge Funds Weigh In On Bancorp

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Bancorp during the 3rd quarter valued at approximately $54,000. Advisors Asset Management Inc. grew 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 valued at $74,000 after purchasing an additional 741 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Bancorp during the 3rd quarter valued at approximately $77,000. 96.22% of the stock is owned by 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.