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

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

Separately, Piper Sandler raised their target price 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 Price Performance

Shares of TBBK opened at $53.69 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 13.56 and a beta of 1.49. Bancorp has a 52 week low of $29.92 and a 52 week high of $61.17. The stock has a 50 day moving average of $54.75 and a 200-day moving average of $50.49.

Bancorp (NASDAQ:TBBK) last released its 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 business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling

In other Bancorp news, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the transaction, the executive vice president now owns 74,798 shares in the company, valued at approximately $3,744,387.88. The trade was a 11.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Maria Wainwright sold 11,357 shares of the firm’s stock in a transaction on 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. This trade represents a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 in the last quarter. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bancorp by 7.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,331 shares of the bank’s stock valued at $466,000 after acquiring an additional 832 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Bancorp by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after purchasing an additional 25,731 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Bancorp by 1.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock valued at $1,157,000 after purchasing an additional 492 shares during the period. Quest Partners LLC raised its stake in shares of Bancorp by 1,672,200.0% in the 2nd quarter. Quest Partners LLC now owns 16,723 shares of the bank’s stock worth $631,000 after buying an additional 16,722 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Bancorp by 4.6% in the second quarter. Texas Permanent School Fund Corp now owns 49,117 shares of the bank’s stock valued at $1,855,000 after buying an additional 2,158 shares during the period. 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.