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

StockNews.com downgraded shares of Bancorp (NASDAQ:TBBK - Free Report) from a hold rating to a sell rating in a research note published on Friday.

Separately, Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday.

Bancorp Stock Down 1.7 %

TBBK stock traded down $0.94 during trading on Friday, reaching $53.58. 437,135 shares of the company traded hands, compared to its average volume of 609,904. The business has a 50 day simple moving average of $54.94 and a 200 day simple moving average of $49.66. Bancorp has a 12 month low of $29.92 and a 12 month high of $61.17. 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 has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.53 and a beta of 1.48.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly 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 business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period in the previous year, the company posted $0.92 earnings per share. On average, equities research analysts anticipate that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In other news, Director Matthew Cohn bought 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 purchase, the director now directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last quarter. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bancorp

A number of large investors have recently bought and sold shares of the business. Raymond James & Associates purchased a new position in Bancorp during the second quarter valued at $1,218,000. Allspring Global Investments Holdings LLC lifted its stake in Bancorp by 65.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,646 shares of the bank's stock valued at $666,000 after buying an additional 7,009 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bancorp by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,331 shares of the bank's stock worth $466,000 after buying an additional 832 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new stake in Bancorp during the 2nd quarter worth approximately $1,322,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank's stock valued at $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Institutional investors and hedge funds 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.