Bancorp (NASDAQ:TBBK) Upgraded by StockNews.com to "Hold" Rating

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK - Free Report) from a sell rating to a hold rating in a report published on Wednesday.

Bancorp Stock Performance

Shares of NASDAQ:TBBK traded up $0.73 during midday trading on Wednesday, hitting $55.91. The company's stock had a trading volume of 343,947 shares, compared to its average volume of 615,482. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 13.93 and a beta of 1.48. The stock's 50 day simple moving average is $55.00 and its 200 day simple moving average is $48.05. Bancorp has a fifty-two week low of $29.92 and a fifty-two week 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.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results 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). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period last year, the business earned $0.92 earnings per share. As a group, research analysts anticipate that Bancorp will post 4.3 earnings per share for the current year.

Insiders Place Their Bets

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the firm'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 completion of the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Cohn purchased 545 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now owns 56,636 shares of the company's stock, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 over the last quarter. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TBBK. Blue Trust Inc. raised its stake in shares of Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank's stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. Point72 DIFC Ltd bought a new position in Bancorp in the 3rd quarter worth approximately $54,000. GAMMA Investing LLC raised its position in Bancorp by 42.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock worth $59,000 after purchasing an additional 327 shares during the last quarter. Advisors Asset Management Inc. raised its position in Bancorp by 114.4% in the 3rd 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 last quarter. Finally, National Bank of Canada FI bought a new position in Bancorp in the 3rd quarter worth approximately $77,000. 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.