Bancorp’s (TBBK) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Bancorp (NASDAQ:TBBK) in a report published on Tuesday morning, Benzinga reports. Piper Sandler currently has a $55.00 target price on the bank’s stock.

TBBK has been the topic of several other reports. Keefe, Bruyette & Woods cut their target price on shares of Bancorp from $52.00 to $46.00 and set an outperform rating on the stock in a research note on Friday, April 5th. StockNews.com raised shares of Bancorp from a sell rating to a hold rating in a research note on Monday, April 29th.

Bancorp Stock Up 1.8 %

Shares of NASDAQ:TBBK opened at $38.57 on Tuesday. Bancorp has a 1 year low of $29.92 and a 1 year high of $47.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98. The business’s 50-day moving average is $33.39 and its 200-day moving average is $36.68. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 10.48 and a beta of 1.47.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $123.80 million during the quarter, compared to the consensus estimate of $126.86 million. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts predict that Bancorp will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Bancorp

In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of Bancorp stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the sale, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at $491,131.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of Bancorp stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the sale, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at $491,131.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Cheryl Creuzot sold 766 shares of Bancorp stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the completion of the sale, the director now directly owns 7,638 shares of the company’s stock, valued at $249,304.32. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,706 shares of company stock valued at $54,962. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in TBBK. GAMMA Investing LLC increased its position in shares of Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after acquiring an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after acquiring an additional 1,272 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Bancorp during the fourth quarter worth about $115,000. Summit Asset Management LLC bought a new stake in shares of Bancorp during the fourth quarter worth about $202,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Bancorp during the first quarter worth about $221,000. 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.