StockNews.com Upgrades Bancorp (NASDAQ:TBBK) to “Hold”

Bancorp (NASDAQ:TBBK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 target price (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 stock an “overweight” rating in a report on Monday, July 29th.

Bancorp Stock Up 1.7 %

TBBK stock traded up $0.93 during trading on Friday, reaching $55.17. 413,312 shares of the stock were exchanged, compared to its average volume of 629,759. The firm’s 50 day moving average is $52.95 and its 200 day moving average is $44.97. The firm has a market cap of $2.64 billion, a P/E ratio of 13.93 and a beta of 1.46. 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 has a twelve month low of $29.92 and a twelve month high of $59.46.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. As a group, research analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Activity at Bancorp

In related news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares in the last quarter. Blue Trust Inc. raised its holdings in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Bancorp during the third quarter worth $54,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after acquiring an additional 1,272 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after purchasing an additional 741 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

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.