Bancorp (NASDAQ:TBBK) Sets New 52-Week High - Should You Buy?

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) reached a new 52-week high during trading on Saturday . The company traded as high as $64.53 and last traded at $61.06, with a volume of 1701726 shares. The stock had previously closed at $57.64.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several recent analyst reports. Raymond James reaffirmed an "outperform" rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research note on Monday. StockNews.com downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Sunday, January 12th. Keefe, Bruyette & Woods increased their price objective on Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd.

Bancorp Price Performance

The stock has a market cap of $2.99 billion, a PE ratio of 14.50 and a beta of 1.49. The firm's 50-day moving average price is $55.25 and its two-hundred day moving average price is $53.08. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. On average, equities analysts expect that The Bancorp, Inc. will post 5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted 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 valued at $72,914,000 after buying an additional 6,459 shares in the last quarter. Franklin Resources Inc. lifted its position 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 acquiring an additional 144,867 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Bancorp by 132.9% in the third 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 in the last quarter. Principal Financial Group Inc. boosted its stake in Bancorp by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank's stock valued at $16,032,000 after acquiring an additional 9,748 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Bancorp by 23.1% in the third 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 last quarter. Hedge funds and other institutional investors 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.