Bancorp (NASDAQ:TBBK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Piper Sandler upped 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

TBBK traded up $2.00 during trading on Friday, hitting $53.69. 244,550 shares of the company traded hands, compared to its average volume of 358,525. 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 company has a market cap of $2.57 billion, a PE ratio of 13.56 and a beta of 1.49. The stock's 50-day simple moving average is $54.75 and its two-hundred day simple moving average is $50.61. Bancorp has a 1 year low of $29.92 and a 1 year high of $61.17.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.08). The firm had revenue of $125.84 million for the quarter, compared to analysts' expectations 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 previous year, the business earned $0.92 EPS. As a group, sell-side analysts anticipate that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Activity at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the company's 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 transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank's stock worth $20,532,000 after acquiring an additional 219,020 shares during the last quarter. Lord Abbett & CO. LLC increased its stake 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 period. Franklin Resources Inc. increased its stake in Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank's stock worth $52,061,000 after purchasing an additional 144,867 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Bancorp during the third quarter valued at $300,000. Finally, Geode Capital Management LLC boosted its stake in shares of Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank's stock valued at $72,914,000 after purchasing an additional 6,459 shares during the period. 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.