Bancorp (NASDAQ:TBBK) Stock Rating Upgraded by 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 to clients and investors on Wednesday.

Bancorp Stock Performance

Bancorp stock opened at $55.82 on Wednesday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 14.10 and a beta of 1.48. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. Bancorp has a 52 week low of $29.92 and a 52 week high of $61.17. The stock has a fifty day moving average price of $55.17 and a 200 day moving average price of $48.16.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The firm had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same period in the prior year, the company posted $0.92 earnings per share. Equities research analysts anticipate that Bancorp will post 4.3 earnings per share for the current year.

Insider Activity

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction of $267,997.98. Following the transaction, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The transaction 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 Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the sale, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,983 shares of company stock worth $1,345,366. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Bancorp in the 3rd quarter valued at $54,000. GAMMA Investing LLC grew its stake in Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after purchasing an additional 327 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Bancorp by 114.4% during the third 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 position in Bancorp in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds 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.