Bancorp (NASDAQ:TBBK) Rating Increased to Hold at StockNews.com

Bancorp (NASDAQ:TBBK - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Piper Sandler upped their price objective on Bancorp from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 29th.

Bancorp Stock Performance

TBBK traded up $0.93 during trading hours on Friday, reaching $55.17. The company's stock had a trading volume of 413,312 shares, compared to its average volume of 629,759. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The company's 50-day moving average is $52.95 and its 200-day moving average is $44.97. Bancorp has a 52 week low of $29.92 and a 52 week high of $59.46. The firm has a market cap of $2.64 billion, a PE ratio of 13.93 and a beta of 1.46.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results 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). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The company had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the prior year, the business posted $0.92 EPS. On average, equities analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Transactions at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the company'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 transaction of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares of the company's stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn acquired 545 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares of the company's stock, valued at $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock worth $29,000 after acquiring an additional 291 shares during the last quarter. Blue Trust Inc. raised its position in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after acquiring an additional 263 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Bancorp in the 3rd quarter valued at about $54,000. EverSource Wealth Advisors LLC boosted its position in shares of Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock valued at $55,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock worth $74,000 after purchasing an additional 741 shares during the period. 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.

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