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

StockNews.com downgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a research report report published on Friday morning.

Separately, Piper Sandler boosted their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

Bancorp Stock Down 1.7 %

Bancorp stock opened at $53.58 on Friday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 13.53 and a beta of 1.48. The firm has a fifty day moving average price of $54.94 and a two-hundred day moving average price of $49.66. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $61.17. 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 earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The firm 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 period last year, the business earned $0.92 earnings per share. As a group, analysts forecast that Bancorp will post 4.3 earnings per share for the current year.

Insider Transactions at Bancorp

In other news, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the sale, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This represents a 11.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Cohn bought 545 shares of the stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average price of $50.11 per share, with a total value of $27,309.95. Following the acquisition, the director now owns 56,636 shares of the company’s stock, valued at $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,983 shares of company stock valued at $1,345,366. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Several large investors have recently modified their holdings of the stock. Nantahala Capital Management LLC bought a new stake in shares of Bancorp in the second quarter valued at approximately $12,757,000. JPMorgan Chase & Co. raised its holdings in Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after acquiring an additional 219,020 shares during the period. Franklin Resources Inc. lifted its position in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after acquiring an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Bancorp in the third quarter worth $6,100,000. Finally, Marshall Wace LLP grew its position in shares of Bancorp by 39.8% in the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after purchasing an additional 96,072 shares in the last quarter. Hedge funds and other 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.