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 report published on Monday morning.

TBBK has been the subject of several other reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price objective (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Piper Sandler boosted their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

Bancorp Price Performance

Bancorp stock opened at $60.36 on Monday. The firm has a market capitalization of $2.89 billion, a P/E ratio of 15.24 and a beta of 1.46. Bancorp has a 1 year low of $29.92 and a 1 year high of $61.17. The business has a 50-day moving average of $53.70 and a 200-day moving average of $46.00. 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 (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, equities analysts anticipate that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling at Bancorp

In other Bancorp 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 value of $267,997.98. Following the sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 owns 74,798 shares in the company, valued at $3,744,387.88. The trade was a 11.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have 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

A number of institutional investors and hedge funds have recently made changes to their positions in TBBK. Nantahala Capital Management LLC bought a new stake in shares of Bancorp during the 2nd quarter worth approximately $12,757,000. Lisanti Capital Growth LLC bought a new stake in shares of Bancorp during the 3rd quarter worth approximately $6,100,000. Marshall Wace LLP raised its stake in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after purchasing an additional 96,072 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after purchasing an additional 70,768 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Bancorp by 129.0% during the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after purchasing an additional 70,361 shares in the last quarter. 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.