Zacks Investment Research downgraded shares of The Bancorp (NASDAQ:TBBK) from a buy rating to a hold rating in a report published on Wednesday, December 27th.
According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “
Separately, Piper Jaffray Companies reiterated a hold rating and set a $9.00 target price on shares of The Bancorp in a research report on Friday, November 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $9.33.
The Bancorp (NASDAQ:TBBK) opened at $10.80 on Wednesday. The Bancorp has a one year low of $4.41 and a one year high of $10.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.50 and a current ratio of 0.60. The stock has a market cap of $576.47, a PE ratio of 180.00 and a beta of 1.23.
In other news, Director Daniel G. Cohen sold 250,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $9.53, for a total transaction of $2,382,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Chrystal sold 62,285 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $9.65, for a total value of $601,050.25. The disclosure for this sale can be found here. 12.40% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in shares of The Bancorp in the third quarter valued at approximately $103,000. CAPROCK Group Inc. purchased a new stake in shares of The Bancorp in the third quarter valued at approximately $106,000. Trexquant Investment LP purchased a new stake in shares of The Bancorp in the third quarter valued at approximately $162,000. UBS Asset Management Americas Inc. boosted its stake in shares of The Bancorp by 0.5% in the second quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock valued at $167,000 after buying an additional 117 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of The Bancorp by 20.4% in the second quarter. Voya Investment Management LLC now owns 24,779 shares of the bank’s stock valued at $188,000 after buying an additional 4,203 shares in the last quarter. 72.84% of the stock is currently owned by institutional investors.
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About The Bancorp
The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).
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