Bancorp (TBBK) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a report released on Tuesday morning.

A number of other analysts have also weighed in on the company. TheStreet lowered Bancorp from a b rating to a c rating in a research note on Thursday, August 30th. BidaskClub lowered Bancorp from a sell rating to a strong sell rating in a research note on Saturday, August 18th. Finally, Zacks Investment Research lowered Bancorp from a buy rating to a hold rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $11.00.

NASDAQ:TBBK opened at $10.52 on Tuesday. The company has a market cap of $589.30 million, a PE ratio of 20.63 and a beta of 0.98. Bancorp has a fifty-two week low of $8.52 and a fifty-two week high of $12.00. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 0.17.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 25th. The bank reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.31). The company had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $120.75 million. Bancorp had a net margin of 6.61% and a return on equity of 11.88%. Sell-side analysts anticipate that Bancorp will post 0.78 earnings per share for the current year.

In related news, Director Daniel G. Cohen sold 25,000 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $9.63, for a total value of $240,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC lifted its stake in Bancorp by 22.1% in the third quarter. Frontier Capital Management Co. LLC now owns 4,258,794 shares of the bank’s stock worth $40,842,000 after acquiring an additional 769,978 shares during the period. BlackRock Inc. lifted its stake in Bancorp by 1.4% in the third quarter. BlackRock Inc. now owns 3,612,621 shares of the bank’s stock worth $34,646,000 after acquiring an additional 51,462 shares during the period. Dimensional Fund Advisors LP lifted its stake in Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,448,573 shares of the bank’s stock worth $36,073,000 after acquiring an additional 145,998 shares during the period. Wells Fargo & Company MN lifted its stake in Bancorp by 8.1% in the third quarter. Wells Fargo & Company MN now owns 2,040,005 shares of the bank’s stock worth $19,563,000 after acquiring an additional 152,896 shares during the period. Finally, Nantahala Capital Management LLC lifted its stake in Bancorp by 4.4% in the second quarter. Nantahala Capital Management LLC now owns 1,711,379 shares of the bank’s stock worth $17,901,000 after acquiring an additional 72,724 shares during the period. 80.06% of the stock is owned by institutional investors.

Bancorp Company Profile

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 retirement accounts.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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