Separately, Piper Sandler decreased their price objective on Bancorp from $36.00 to $31.00 and set an overweight rating on the stock in a report on Monday, July 11th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of $36.33.
Bancorp Stock Down 1.3 %
Shares of TBBK stock opened at $22.88 on Monday. The stock’s 50 day simple moving average is $23.44 and its 200 day simple moving average is $23.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 0.97. Bancorp has a twelve month low of $16.59 and a twelve month high of $33.36. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.61 and a beta of 1.45.
Hedge Funds Weigh In On Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. raised its position in shares of Bancorp by 325.8% during the first quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after acquiring an additional 935 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Bancorp during the second quarter worth $29,000. Federated Hermes Inc. raised its position in shares of Bancorp by 35.4% during the first quarter. Federated Hermes Inc. now owns 2,522 shares of the bank’s stock worth $71,000 after acquiring an additional 660 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Bancorp by 141.4% during the second quarter. Parkside Financial Bank & Trust now owns 2,740 shares of the bank’s stock worth $53,000 after acquiring an additional 1,605 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Bancorp by 93.9% in the first quarter. PNC Financial Services Group Inc. now owns 3,012 shares of the bank’s stock valued at $86,000 after purchasing an additional 1,459 shares during the last quarter. Institutional investors and hedge funds own 90.95% 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, and commercial accounts; and prepaid and debit cards.
- Get a free copy of the StockNews.com research report on Bancorp (TBBK)
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