Bancorp (NASDAQ:TBBK) Downgraded to Sell Rating by StockNews.com

Bancorp (NASDAQ:TBBK - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a report released on Sunday.

Separately, Piper Sandler raised their target price 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 Stock Performance

NASDAQ TBBK traded down $1.61 on Friday, hitting $50.30. The stock had a trading volume of 381,270 shares, compared to its average volume of 344,578. The company's 50-day moving average is $54.96 and its two-hundred day moving average is $51.22. Bancorp has a one year low of $29.92 and a one year high of $61.17. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 12.70 and a beta of 1.49. 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 (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period last year, the company earned $0.92 earnings per share. On average, analysts expect that Bancorp will post 4.3 earnings per share for the current year.

Insider Transactions at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company's stock, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp 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 owns 23,291 shares in the company, 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. In the last 90 days, insiders have sold 26,983 shares of company stock valued at $1,345,366. Corporate insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Bancorp

A number of institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp grew its position in Bancorp by 4.6% in the second quarter. Texas Permanent School Fund Corp now owns 49,117 shares of the bank's stock worth $1,855,000 after acquiring an additional 2,158 shares in the last quarter. American Century Companies Inc. increased its position in Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank's stock worth $60,545,000 after buying an additional 70,178 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Bancorp by 12.4% during the second quarter. WINTON GROUP Ltd now owns 29,498 shares of the bank's stock valued at $1,114,000 after buying an additional 3,243 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Bancorp during the 2nd quarter worth about $216,000. Finally, Edgestream Partners L.P. increased its holdings in shares of Bancorp by 67.8% during the 2nd quarter. Edgestream Partners L.P. now owns 22,261 shares of the bank's stock valued at $841,000 after acquiring an additional 8,996 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

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.