Bancorp (NASDAQ:TBBK) Cut to “Sell” at StockNews.com

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

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

Bancorp Trading Down 3.1 %

TBBK opened at $50.30 on Friday. The firm has a market cap of $2.41 billion, a P/E ratio of 12.70 and a beta of 1.49. Bancorp has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $54.96 and a 200 day moving average of $51.22.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). The company had revenue of $125.84 million during the quarter, compared to analysts’ expectations 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 business posted $0.92 EPS. As a group, research analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Activity

In other Bancorp news, Director Matthew Cohn acquired 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $267,997.98. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 26,983 shares of company stock valued at $1,345,366. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Bancorp in the third quarter worth $54,000. GAMMA Investing LLC grew its holdings in Bancorp by 42.4% in the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after purchasing an additional 327 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in Bancorp in the third quarter worth $77,000. 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.