Keefe, Bruyette & Woods downgraded shares of Bancorp (NASDAQ:TBBK – Free Report) from an outperform rating to a market perform rating in a research report report published on Thursday, Marketbeat Ratings reports. They currently have $65.00 price objective on the bank’s stock, down from their previous price objective of $70.00.
Separately, Wall Street Zen cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st.
Bancorp Trading Down 4.7%
Bancorp (NASDAQ:TBBK – Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The company had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Research analysts forecast that Bancorp will post 5.31 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Bancorp by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after acquiring an additional 9,748 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Bancorp by 7,572.1% during the 1st quarter. GAMMA Investing LLC now owns 77,411 shares of the bank’s stock worth $4,090,000 after acquiring an additional 76,402 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bancorp during the 4th quarter valued at $3,474,000. Sanctuary Advisors LLC lifted its stake in shares of Bancorp by 111.9% during the 4th quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank’s stock valued at $638,000 after buying an additional 5,845 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Bancorp by 191.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after buying an additional 489 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.
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.
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