Bancorp (NASDAQ:TBBK) Given New $72.00 Price Target at Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK - Get Free Report) had its price target hoisted by analysts at Keefe, Bruyette & Woods from $66.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 15.09% from the company's previous close.

A number of other equities analysts have also recently commented on the company. StockNews.com cut Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, January 12th. Raymond James restated an "outperform" rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a report on Monday. Finally, Piper Sandler upped their target price on shares of Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd.

Bancorp Trading Down 0.3 %

NASDAQ:TBBK traded down $0.19 on Monday, hitting $62.56. The stock had a trading volume of 472,916 shares, compared to its average volume of 449,561. The company has a fifty day moving average price of $55.33 and a two-hundred day moving average price of $53.15. Bancorp has a 1-year low of $29.92 and a 1-year high of $64.53. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 14.55 and a beta of 1.49.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Bancorp will post 5.25 earnings per share for the current fiscal year.

Institutional Trading of Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in TBBK. The Manufacturers Life Insurance Company increased its stake in Bancorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank's stock valued at $1,056,000 after purchasing an additional 234 shares during the period. GAMMA Investing LLC increased its position in Bancorp by 42.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock valued at $59,000 after acquiring an additional 327 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Bancorp by 24.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,800 shares of the bank's stock worth $1,593,000 after acquiring an additional 5,800 shares during the period. Blue Trust Inc. grew its stake in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock valued at $34,000 after purchasing an additional 263 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Bancorp by 55.9% in the third quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock valued at $2,690,000 after purchasing an additional 18,027 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

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.