StockNews.com Downgrades Bancorp (NASDAQ:TBBK) to Sell

Bancorp (NASDAQ:TBBK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Bancorp Trading Down 5.7 %

Shares of NASDAQ TBBK opened at $52.31 on Thursday. The firm’s 50 day moving average price is $55.31 and its 200-day moving average price is $48.88. 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 company has a market cap of $2.51 billion, a PE ratio of 13.21 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data 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). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, equities research analysts expect that Bancorp will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Bancorp

A number of hedge funds have recently bought and sold shares of the company. Raymond James & Associates purchased a new stake in shares of Bancorp during the 2nd quarter valued at about $1,218,000. Bailard Inc. increased its holdings in Bancorp by 3.0% during the second quarter. Bailard Inc. now owns 23,682 shares of the bank’s stock valued at $894,000 after buying an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Bancorp by 65.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 17,646 shares of the bank’s stock worth $666,000 after acquiring an additional 7,009 shares during the period. Legend Financial Advisors Inc. boosted its stake in shares of Bancorp by 2.1% during the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after acquiring an additional 380 shares during the last quarter. Finally, Whittier Trust Co. grew its position in shares of Bancorp by 6.0% during the 2nd quarter. Whittier Trust Co. now owns 261,798 shares of the bank’s stock valued at $9,883,000 after acquiring an additional 14,884 shares during the period. Hedge funds and other 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.