Bancorp (NASDAQ:TBBK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a report published on Saturday morning.

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

Bancorp Trading Down 1.0 %

TBBK opened at $53.16 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $61.17. The company’s 50 day moving average price is $54.81 and its two-hundred day moving average price is $50.86. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.42 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $125.84 million during 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 prior year, the firm earned $0.92 earnings per share. As a group, research analysts predict that Bancorp will post 4.3 earnings per share for the current year.

Insider Activity at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn acquired 545 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were bought at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, 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. 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 Trading of Bancorp

Several large investors have recently made changes to their positions in TBBK. American Century Companies Inc. boosted its holdings in Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after acquiring an additional 70,178 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock worth $72,914,000 after purchasing an additional 6,459 shares in the last quarter. Franklin Resources Inc. grew its position in Bancorp by 18.6% in the 3rd 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 period. Jupiter Asset Management Ltd. increased its stake in Bancorp by 11.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock valued at $16,717,000 after purchasing an additional 46,115 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after buying an additional 25,731 shares during the last quarter. 96.22% of the stock is currently 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.