ValuEngine Upgrades Bancorp (NASDAQ:TBBK) to Sell

Bancorp (NASDAQ:TBBK) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. Zacks Investment Research raised shares of Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, June 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

NASDAQ TBBK opened at $9.50 on Tuesday. The firm has a market cap of $547.11 million, a price-to-earnings ratio of 9.90 and a beta of 1.51. The company has a 50 day moving average of $9.58 and a 200-day moving average of $8.26. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 0.10. Bancorp has a 1-year low of $3.36 and a 1-year high of $13.73.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.07. The company had revenue of $70.61 million during the quarter, compared to analyst estimates of $62.46 million. Bancorp had a net margin of 19.19% and a return on equity of 13.07%. On average, analysts forecast that Bancorp will post 1.29 earnings per share for the current year.

In other news, Director John C. Chrystal sold 12,592 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $10.11, for a total transaction of $127,305.12. Following the sale, the director now directly owns 305,244 shares of the company’s stock, valued at $3,086,016.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank grew its stake in shares of Bancorp by 1.6% during the first quarter. Swiss National Bank now owns 99,300 shares of the bank’s stock valued at $603,000 after purchasing an additional 1,600 shares during the last quarter. American International Group Inc. boosted its stake in Bancorp by 6.1% in the second quarter. American International Group Inc. now owns 31,528 shares of the bank’s stock valued at $309,000 after acquiring an additional 1,799 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Bancorp by 21.9% in the second quarter. First Mercantile Trust Co. now owns 10,531 shares of the bank’s stock valued at $103,000 after acquiring an additional 1,895 shares during the last quarter. California Public Employees Retirement System boosted its stake in Bancorp by 1.7% in the second quarter. California Public Employees Retirement System now owns 113,584 shares of the bank’s stock valued at $1,113,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in Bancorp by 14.7% in the first quarter. Citigroup Inc. now owns 15,707 shares of the bank’s stock valued at $95,000 after acquiring an additional 2,010 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors and hedge funds.

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

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