Bancorp (NASDAQ:TBBK) Stock Rating Lowered by StockNews.com

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

Other analysts have also recently issued research reports about the company. Piper Sandler raised their target price on Bancorp from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 21st. Raymond James lifted 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 reduced their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 5th.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $33.94 on Friday. 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 stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.70 and a beta of 1.45. The stock’s fifty day simple moving average is $37.03 and its 200 day simple moving average is $38.01. Bancorp has a 52-week low of $25.97 and a 52-week high of $47.11.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $119.15 million for the quarter, compared to analysts’ expectations of $118.52 million. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. As a group, sell-side analysts forecast that Bancorp will post 4.42 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In other Bancorp news, Director Stephanie B. Mudick acquired 2,000 shares of the company’s 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 purchase, the director now owns 31,584 shares of the company’s stock, valued at approximately $1,172,082.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Matthew Cohn purchased 2,485 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the purchase, the director now directly owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephanie B. Mudick purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average price of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the purchase, the director now directly owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 7,800 shares of company stock worth $308,838. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Arcus Capital Partners LLC acquired a new stake in Bancorp during the first quarter valued at approximately $221,000. Allspring Global Investments Holdings LLC boosted its holdings in Bancorp by 9.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,637 shares of the bank’s stock valued at $356,000 after purchasing an additional 941 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Bancorp during the first quarter valued at approximately $679,000. First Hawaiian Bank boosted its holdings in shares of Bancorp by 24.7% in the 1st quarter. First Hawaiian Bank now owns 18,480 shares of the bank’s stock worth $618,000 after acquiring an additional 3,661 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in shares of Bancorp by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 227,545 shares of the bank’s stock worth $8,774,000 after acquiring an additional 817 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Company Profile

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.