Bancorp (NASDAQ:TBBK) Upgraded to Sell at ValuEngine

Bancorp (NASDAQ:TBBK) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

A number of other brokerages also recently commented on TBBK. Zacks Investment Research raised shares of Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Tuesday, June 16th. BidaskClub downgraded shares of Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Shares of TBBK opened at $9.50 on Tuesday. The firm has a 50-day moving average of $9.58 and a 200-day moving average of $8.26. Bancorp has a one year low of $3.36 and a one year high of $13.73. The company has a market cap of $547.11 million, a PE ratio of 9.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.83 and a quick ratio of 0.51.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Bancorp had a net margin of 19.19% and a return on equity of 13.07%. The company had revenue of $70.61 million during the quarter, compared to the consensus estimate of $62.46 million. Analysts expect that Bancorp will post 1.29 earnings per share for the current year.

In related news, Director John C. Chrystal sold 12,592 shares of Bancorp stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $10.11, for a total transaction of $127,305.12. Following the completion of the sale, the director now owns 305,244 shares of the company’s stock, valued at approximately $3,086,016.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Globeflex Capital L P boosted its holdings in shares of Bancorp by 9.7% during the 2nd quarter. Globeflex Capital L P now owns 85,847 shares of the bank’s stock worth $841,000 after buying an additional 7,601 shares during the period. Geode Capital Management LLC boosted its holdings in Bancorp by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 774,479 shares of the bank’s stock valued at $4,701,000 after purchasing an additional 21,881 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Bancorp by 1,888.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 115,581 shares of the bank’s stock valued at $702,000 after purchasing an additional 109,767 shares during the period. Two Sigma Investments LP boosted its holdings in Bancorp by 34.0% in the 1st quarter. Two Sigma Investments LP now owns 222,977 shares of the bank’s stock valued at $1,353,000 after purchasing an additional 56,599 shares during the period. Finally, Anderson Hoagland & Co. boosted its holdings in Bancorp by 13.2% in the 2nd quarter. Anderson Hoagland & Co. now owns 206,068 shares of the bank’s stock valued at $2,019,000 after purchasing an additional 23,997 shares during the period. 81.39% of the stock is owned by institutional investors and hedge funds.

Bancorp Company Profile

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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