BidaskClub upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research note released on Wednesday, BidAskClub reports.
A number of other equities research analysts also recently weighed in on TBBK. Zacks Investment Research raised shares of Bancorp from a sell rating to a buy rating and set a $12.00 price target for the company in a research note on Saturday, November 2nd. Sandler O’Neill upgraded shares of Bancorp from a hold rating to a buy rating in a report on Tuesday, December 3rd. Finally, ValuEngine cut shares of Bancorp from a hold rating to a sell rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $12.00.
Shares of TBBK stock opened at $11.57 on Wednesday. The firm has a market cap of $658.46 million, a price-to-earnings ratio of 16.77 and a beta of 1.27. Bancorp has a 12 month low of $7.64 and a 12 month high of $11.76. The company has a quick ratio of 0.61, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $10.96 and a 200 day moving average price of $9.80.
Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.11. The company had revenue of $71.08 million for the quarter, compared to the consensus estimate of $63.76 million. Bancorp had a net margin of 20.66% and a return on equity of 12.67%. Sell-side analysts predict that Bancorp will post 1.09 earnings per share for the current fiscal year.
In related news, Director Daniel G. Cohen sold 54,686 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $10.73, for a total value of $586,780.78. Also, General Counsel Bradley D. Owens sold 24,654 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $40.19, for a total value of $990,844.26. Over the last 90 days, insiders bought 13,000 shares of company stock worth $143,410 and sold 104,340 shares worth $1,858,113. 11.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TBBK. Panagora Asset Management Inc. increased its stake in shares of Bancorp by 3,288.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 10,945 shares of the bank’s stock valued at $98,000 after acquiring an additional 10,622 shares during the last quarter. BerganKDV Wealth Management LLC grew its holdings in Bancorp by 21.8% during the second quarter. BerganKDV Wealth Management LLC now owns 11,697 shares of the bank’s stock valued at $104,000 after purchasing an additional 2,090 shares during the period. Patriot Financial Partners GP LP bought a new stake in Bancorp in the third quarter valued at approximately $109,000. Capital Investment Counsel Inc increased its stake in Bancorp by 23.8% in the second quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock valued at $110,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Bancorp by 24.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,550 shares of the bank’s stock valued at $139,000 after purchasing an additional 3,080 shares in the last quarter. Hedge funds and other institutional investors own 78.87% of the company’s stock.
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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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