StockNews.com Downgrades Bancorp (NASDAQ:TBBK) to Sell

StockNews.com lowered shares of Bancorp (NASDAQ:TBBK - Free Report) from a hold rating to a sell rating in a research note released on Tuesday morning.

Bancorp Stock Down 1.2 %

Shares of NASDAQ:TBBK traded down $0.67 on Tuesday, hitting $56.66. 53,902 shares of the company traded hands, compared to its average volume of 621,305. The company has a market cap of $2.72 billion, a PE ratio of 14.48 and a beta of 1.48. The stock has a 50 day simple moving average of $54.42 and a 200-day simple moving average of $47.07. Bancorp has a 52 week low of $29.92 and a 52 week high of $61.17. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The firm had revenue of $125.84 million for the quarter, compared to analysts' expectations of $131.34 million. During the same quarter in the previous year, the company earned $0.92 EPS. As a group, research analysts expect that Bancorp will post 4.3 earnings per share for the current year.

Insiders Place Their Bets

In other Bancorp 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 directly owns 73,114 shares of the company's stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew J. Wallace sold 10,160 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total value of $508,609.60. Following the sale, the executive vice president now directly owns 74,798 shares of the company's stock, valued at $3,744,387.88. This represents a 11.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is owned by insiders.

Institutional Trading of Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of TBBK. The Manufacturers Life Insurance Company boosted its stake in Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank's stock worth $1,056,000 after purchasing an additional 234 shares during the period. Blue Trust Inc. boosted its stake in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank's stock valued at $34,000 after buying an additional 263 shares during the last quarter. 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 valued at $29,000 after buying an additional 291 shares in the last quarter. Legend Financial Advisors Inc. increased its stake in Bancorp by 2.1% in the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank's stock worth $687,000 after acquiring an additional 380 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in shares of Bancorp by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank's stock worth $815,000 after acquiring an additional 476 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other 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.