Bancorp (NASDAQ:TBBK) Upgraded at StockNews.com

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

A number of other equities analysts have also recently commented on the company. Piper Sandler lifted their price target on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Price Performance

Shares of NASDAQ TBBK traded up $2.94 during trading hours on Monday, reaching $60.36. 1,036,321 shares of the stock traded hands, compared to its average volume of 627,609. The company has a market capitalization of $2.89 billion, a P/E ratio of 15.24 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. Bancorp has a 52-week low of $29.92 and a 52-week high of $61.17. The company’s 50-day simple moving average is $53.70 and its two-hundred day simple moving average is $46.00.

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

Insider Activity

In other news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $50.11 per share, for a total transaction 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 trade represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,983 shares of company stock valued at $1,345,366. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently made changes to their positions in TBBK. GAMMA Investing LLC boosted its position in shares of Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Bancorp during the third quarter valued at approximately $54,000. EverSource Wealth Advisors LLC boosted its position in shares of Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Bancorp by 114.4% during 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.

Bancorp Company Profile

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.