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

StockNews.com cut shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods decreased their price objective on Bancorp from $52.00 to $46.00 and set an outperform rating for the company in a report on Friday, April 5th. Raymond James increased their price objective on Bancorp from $42.00 to $50.00 and gave the stock an outperform rating in a report on Monday, January 29th. Finally, Piper Sandler increased their price objective on Bancorp from $49.00 to $51.00 and gave the stock an overweight rating in a report on Thursday, December 21st.

Bancorp Stock Up 2.3 %

Shares of Bancorp stock opened at $33.94 on Friday. Bancorp has a 1 year low of $25.97 and a 1 year high of $47.11. The business has a 50-day moving average of $37.03 and a two-hundred day moving average of $37.98. The company has a market capitalization of $1.77 billion, a P/E ratio of 9.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 0.96.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The company had revenue of $119.15 million during the quarter, compared to the consensus estimate of $118.52 million. As a group, equities analysts predict that Bancorp will post 4.42 EPS for the current year.

Insider Activity at Bancorp

In related news, Director Daniela Mielke purchased 3,315 shares of Bancorp stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the transaction, the director now owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Daniela Mielke purchased 3,315 shares of Bancorp stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the transaction, the director now owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Cohn acquired 2,485 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $34.21 per share, with a total value of $85,011.85. Following the completion of the transaction, the director now owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 7,800 shares of company stock valued at $308,838. Insiders own 4.30% of the company’s stock.

Institutional Trading of Bancorp

A number of hedge funds have recently made changes to their positions in TBBK. Epoch Investment Partners Inc. lifted its position in shares of Bancorp by 80.7% in the third quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock valued at $25,032,000 after buying an additional 323,986 shares during the last quarter. Millennium Management LLC lifted its position in shares of Bancorp by 364.4% in the fourth quarter. Millennium Management LLC now owns 358,305 shares of the bank’s stock valued at $10,169,000 after buying an additional 281,156 shares during the last quarter. State Street Corp lifted its holdings in Bancorp by 9.6% during the 1st quarter. State Street Corp now owns 2,735,551 shares of the bank’s stock worth $77,498,000 after purchasing an additional 239,939 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Bancorp by 46.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 692,113 shares of the bank’s stock worth $19,642,000 after purchasing an additional 219,020 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Bancorp by 2.3% during the 1st quarter. BlackRock Inc. now owns 8,494,240 shares of the bank’s stock worth $240,641,000 after purchasing an additional 192,639 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

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.