Bancorp (NASDAQ:TBBK) Sets New 1-Year High - Still a Buy?

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $65.84 and last traded at $61.35, with a volume of 17088 shares changing hands. The stock had previously closed at $61.66.

Analyst Ratings Changes

Several research firms have weighed in on TBBK. Raymond James reiterated an "outperform" rating and issued a $67.00 price target (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. StockNews.com downgraded Bancorp from a "hold" rating to a "sell" rating in a research report on Sunday, January 12th. Finally, Piper Sandler upped their price target on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, December 23rd.

Bancorp Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The company's 50-day moving average price is $55.70 and its 200 day moving average price is $53.53. The stock has a market capitalization of $2.93 billion, a P/E ratio of 14.26 and a beta of 1.49.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, equities analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Investors Weigh In On Bancorp

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Bancorp during the fourth quarter valued at approximately $3,474,000. Invesco Ltd. boosted its position in shares of Bancorp by 26.2% during the 4th quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock valued at $118,251,000 after acquiring an additional 466,795 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Bancorp by 8.1% in the fourth quarter. Bank of Montreal Can now owns 5,565 shares of the bank's stock valued at $293,000 after purchasing an additional 418 shares in the last quarter. FMR LLC grew its holdings in shares of Bancorp by 2.0% in the fourth quarter. FMR LLC now owns 4,306,715 shares of the bank's stock valued at $226,662,000 after purchasing an additional 85,908 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Bancorp by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank's stock worth $635,000 after purchasing an additional 408 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

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.