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

Bancorp (NASDAQ:TBBK - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Thursday.

Bancorp Stock Performance

TBBK stock traded down $0.35 during mid-day trading on Thursday, hitting $51.96. 651,136 shares of the company were exchanged, compared to its average volume of 612,534. Bancorp has a 1-year low of $29.92 and a 1-year high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.49 billion, a PE ratio of 13.12 and a beta of 1.48. The business has a 50 day simple moving average of $55.29 and a 200-day simple moving average of $48.90.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts forecast 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 the 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Cohn acquired 545 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director now owns 56,636 shares in the company, valued at $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.

Hedge Funds Weigh In On Bancorp

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Bancorp during the 3rd quarter valued at $54,000. GAMMA Investing LLC lifted its stake in Bancorp by 42.4% in the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock worth $59,000 after purchasing an additional 327 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock valued at $74,000 after buying an additional 741 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of Bancorp during the third quarter valued at about $77,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

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.