Bancorp Inc (TBBK) Receives $12.00 Consensus Price Target from Brokerages

Bancorp Inc (NASDAQ:TBBK) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $12.00.

TBBK has been the topic of several recent analyst reports. TheStreet downgraded shares of Bancorp from a “b” rating to a “c” rating in a research note on Thursday, August 30th. BidaskClub downgraded shares of Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. Zacks Investment Research downgraded shares of Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, ValuEngine downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.

In other Bancorp news, Director Daniel G. Cohen sold 140,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $9.83, for a total transaction of $1,376,200.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel G. Cohen sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $9.63, for a total transaction of $240,750.00. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Bancorp by 10.5% during the 2nd quarter. BlackRock Inc. now owns 3,561,159 shares of the bank’s stock valued at $37,250,000 after purchasing an additional 339,576 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,448,573 shares of the bank’s stock valued at $36,073,000 after buying an additional 145,998 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Bancorp by 25.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,887,109 shares of the bank’s stock valued at $19,739,000 after buying an additional 379,400 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Bancorp by 4.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,711,379 shares of the bank’s stock valued at $17,901,000 after buying an additional 72,724 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA boosted its holdings in shares of Bancorp by 3.1% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 1,530,854 shares of the bank’s stock valued at $16,013,000 after buying an additional 45,748 shares in the last quarter. 79.87% of the stock is currently owned by institutional investors and hedge funds.

TBBK stock opened at $9.05 on Wednesday. The stock has a market capitalization of $541.32 million, a P/E ratio of 17.75 and a beta of 1.19. Bancorp has a 12 month low of $8.15 and a 12 month high of $12.00. The company has a current ratio of 0.63, a quick ratio of 0.51 and a debt-to-equity ratio of 0.17.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, July 26th. The bank reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.03). The company had revenue of $46.57 million during the quarter, compared to analysts’ expectations of $47.51 million. Bancorp had a return on equity of 9.81% and a net margin of 6.61%. On average, equities research analysts expect that Bancorp will post 0.73 EPS for the current fiscal year.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and prepaid and debit cards.

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