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 report issued on Friday.

Separately, Piper Sandler upped their price target on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd.

Bancorp Stock Performance

NASDAQ TBBK opened at $53.58 on Friday. The firm’s 50 day simple moving average is $54.85 and its 200 day simple moving average is $49.93. 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 1 year low of $29.92 and a 1 year high of $61.17. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.53 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 24th. The bank reported $1.04 EPS 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 firm posted $0.92 EPS. As a group, research analysts expect that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Activity at Bancorp

In other Bancorp news, Director Matthew Cohn acquired 545 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the purchase, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock worth $1,345,366 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Nantahala Capital Management LLC purchased a new stake in shares of Bancorp during the 2nd quarter valued at $12,757,000. JPMorgan Chase & Co. raised its stake in Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after acquiring an additional 219,020 shares during the period. Franklin Resources Inc. lifted its holdings in Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after purchasing an additional 144,867 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in Bancorp during the third quarter worth about $6,100,000. Finally, Marshall Wace LLP increased its stake in shares of Bancorp by 39.8% in the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after purchasing an additional 96,072 shares in the last quarter. 96.22% of the stock is owned by 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.