Bancorp (NASDAQ:TBBK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bancorp (NASDAQ:TBBK - Free Report) had its price objective raised by Piper Sandler from $61.00 to $64.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank's stock.

Separately, StockNews.com downgraded Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday.

Bancorp Price Performance

Shares of TBBK stock traded up $0.05 on Monday, reaching $53.36. The company's stock had a trading volume of 322,948 shares, compared to its average volume of 614,270. The stock's fifty day simple moving average is $55.18 and its 200-day simple moving average is $49.44. Bancorp has a 1 year low of $29.92 and a 1 year high of $61.17. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.47 and a beta of 1.48. 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 (NASDAQ:TBBK - Get Free Report) last issued 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 business had revenue of $125.84 million during the quarter, compared to analysts' expectations 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 business earned $0.92 earnings per share. Analysts forecast that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the sale, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business's 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in shares of Bancorp during the third quarter valued at $514,000. Lord Abbett & CO. LLC lifted its position in shares of Bancorp by 23.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank's stock worth $16,223,000 after purchasing an additional 56,959 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank's stock valued at $14,775,000 after purchasing an additional 25,731 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Bancorp during the second quarter valued at approximately $391,000. Finally, Raymond James & Associates raised its stake in Bancorp by 55.9% in the third quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock worth $2,690,000 after buying an additional 18,027 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.