Bancorp (NASDAQ:TBBK) Cut to Sell at StockNews.com

Bancorp (NASDAQ:TBBK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other analysts have also issued reports on the company. Piper Sandler boosted their price target on Bancorp from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, December 21st. Raymond James boosted their price objective on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th.

Bancorp Stock Performance

NASDAQ:TBBK traded up $0.75 during mid-day trading on Friday, hitting $33.94. 559,966 shares of the company traded hands, compared to its average volume of 631,652. The stock’s fifty day moving average price is $37.03 and its 200-day moving average price is $37.98. Bancorp has a one year low of $25.97 and a one year high of $47.11. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 9.70 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The business had revenue of $119.15 million during the quarter, compared to analyst estimates of $118.52 million. Research analysts anticipate that Bancorp will post 4.42 earnings per share for the current fiscal year.

Insider Activity

In other Bancorp news, Director Stephanie B. Mudick acquired 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the transaction, the director now directly owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Stephanie B. Mudick bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the transaction, the director now owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniela Mielke bought 3,315 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $45.13 per share, for a total transaction of $149,605.95. Following the completion of the transaction, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The disclosure for this purchase can be found here. Insiders have acquired 7,800 shares of company stock worth $308,838 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Hedge funds have recently made changes to their positions in the company. Carmel Capital Partners LLC purchased a new stake in shares of Bancorp in the third quarter worth about $34,000. Advisor Group Holdings Inc. lifted its position in shares of Bancorp by 325.8% in the first quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after buying an additional 935 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in Bancorp during the second quarter valued at approximately $45,000. Federated Hermes Inc. raised its position in Bancorp by 28.1% during the third quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock valued at $50,000 after purchasing an additional 500 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Bancorp during the fourth quarter valued at approximately $56,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.