Bancorp (NASDAQ:TBBK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Piper Sandler lifted their price objective on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd.

Bancorp Price Performance

TBBK opened at $53.69 on Friday. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $61.17. The firm has a 50-day moving average of $54.75 and a 200 day moving average of $50.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The firm has a market cap of $2.57 billion, a P/E ratio of 13.56 and a beta of 1.49.

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 company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same period in the prior year, the company earned $0.92 earnings per share. On average, research analysts expect that Bancorp will post 4.3 EPS for the current year.

Insider Activity at Bancorp

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 32.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bancorp by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,331 shares of the bank’s stock valued at $466,000 after buying an additional 832 shares in the last quarter. Victory Capital Management Inc. raised its position in Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after purchasing an additional 25,731 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Bancorp by 1.6% during the second quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock worth $1,157,000 after purchasing an additional 492 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Bancorp by 1,672,200.0% in the 2nd quarter. Quest Partners LLC now owns 16,723 shares of the bank’s stock worth $631,000 after purchasing an additional 16,722 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Bancorp by 4.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 49,117 shares of the bank’s stock valued at $1,855,000 after purchasing an additional 2,158 shares during the last quarter. 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.