Bancorp (NASDAQ:TBBK) Downgraded by StockNews.com to Sell

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

Bancorp Trading Up 2.6 %

TBBK stock opened at $53.31 on Thursday. Bancorp has a one year low of $29.92 and a one year high of $61.17. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 13.46 and a beta of 1.48. The company has a fifty day moving average price of $55.24 and a two-hundred day moving average price of $49.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85.

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

Insider Transactions at Bancorp

In related news, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the company’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 value of $267,997.98. Following the completion of the sale, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 over the last three months. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC bought a new stake in Bancorp during the 2nd quarter valued at approximately $12,757,000. Franklin Resources Inc. lifted its position in Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after buying an additional 144,867 shares during the period. Lisanti Capital Growth LLC bought a new stake in shares of Bancorp during the 3rd quarter valued at $6,100,000. Marshall Wace LLP boosted its holdings in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after buying an additional 96,072 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after buying an additional 70,768 shares during the period. 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.