Bancorp (NASDAQ:TBBK) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research report released on Monday morning.

Several other brokerages have also recently weighed in on TBBK. Raymond James raised their price objective on Bancorp from $42.00 to $50.00 and gave the company an outperform rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods cut their price target on shares of Bancorp from $52.00 to $46.00 and set an outperform rating on the stock in a report on Friday, April 5th.

Bancorp Trading Up 1.0 %

TBBK opened at $31.11 on Monday. Bancorp has a fifty-two week low of $28.04 and a fifty-two week high of $47.11. The firm has a market capitalization of $1.63 billion, a PE ratio of 8.45 and a beta of 1.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98. The company’s 50-day moving average is $35.76 and its 200 day moving average is $37.97.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Friday, April 26th. The bank reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter last year, the company posted $0.88 earnings per share. As a group, research analysts predict that Bancorp will post 4.25 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In related news, Director Matthew Cohn purchased 2,485 shares of Bancorp stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the transaction, the director now owns 157,627 shares in the company, valued at $5,392,419.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Stephanie B. Mudick purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $37.11 per share, for a total transaction of $74,220.00. Following the purchase, the director now owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Cohn acquired 2,485 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price 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 in the company, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. Insiders have acquired 7,800 shares of company stock worth $308,838 in the last ninety days. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of TBBK. Epoch Investment Partners Inc. raised its holdings in Bancorp by 80.7% during the 3rd quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock valued at $25,032,000 after acquiring an additional 323,986 shares during the period. Moody Aldrich Partners LLC bought a new position in Bancorp in the 4th quarter worth about $7,184,000. Principal Financial Group Inc. grew its holdings in Bancorp by 21.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock valued at $39,984,000 after buying an additional 184,647 shares in the last quarter. American Century Companies Inc. increased its position in shares of Bancorp by 21.9% during the third quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after buying an additional 175,854 shares during the period. Finally, FMR LLC boosted its position in shares of Bancorp by 3.3% in the third quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock valued at $168,355,000 after acquiring an additional 157,987 shares during the period. Institutional investors own 96.22% of the company’s stock.

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.