StockNews.com Downgrades Bancorp (NASDAQ:TBBK) to Sell

StockNews.com lowered shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Bancorp Stock Performance

NASDAQ TBBK opened at $53.31 on Thursday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.46 and a beta of 1.48. The stock has a 50-day moving average of $55.24 and a 200 day moving average of $49.18. 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 $61.17.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period in the previous year, the company earned $0.92 earnings per share. Sell-side analysts anticipate that Bancorp will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn bought 545 shares of the stock in a transaction on Tuesday, October 29th. The shares were bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 in the last 90 days. Insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of hedge funds have recently bought and sold shares of TBBK. Blue Trust Inc. boosted its holdings in shares of Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Bancorp during the third quarter worth $54,000. GAMMA Investing LLC boosted its stake in Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after buying an additional 327 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after acquiring an additional 741 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Bancorp during the 3rd quarter worth $77,000. Institutional investors and hedge funds 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.