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

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

A number of other research firms also recently weighed in on TBBK. Raymond James reissued an “outperform” rating and set a $67.00 target price (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Piper Sandler raised their price target on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

Bancorp Stock Performance

TBBK opened at $51.58 on Thursday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 12.00 and a beta of 1.59. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. Bancorp has a 12-month low of $29.92 and a 12-month high of $65.84. The business has a 50 day moving average of $56.23 and a 200-day moving average of $54.44.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, equities research analysts expect that Bancorp will post 5.31 earnings per share for the current year.

Hedge Funds Weigh In On Bancorp

A number of large investors have recently modified their holdings of the company. US Bancorp DE bought a new position in shares of Bancorp in the third quarter valued at $83,000. Sheets Smith Wealth Management acquired a new stake in shares of Bancorp in the 3rd quarter worth about $376,000. State of New Jersey Common Pension Fund D bought a new position in Bancorp in the 3rd quarter valued at about $2,080,000. Lisanti Capital Growth LLC bought a new position in Bancorp in the 3rd quarter valued at about $6,100,000. Finally, Versor Investments LP acquired a new position in Bancorp during the 3rd quarter valued at about $514,000. 96.22% of the stock is currently owned by institutional investors.

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.