Bancorp (NASDAQ:TBBK) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, November 5th, ValuEngine reports.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Bancorp from a “sell” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Saturday, November 2nd. BidaskClub raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.
TBBK stock traded down $0.03 during midday trading on Tuesday, reaching $11.09. 118,542 shares of the company’s stock traded hands, compared to its average volume of 218,693. The stock’s 50-day moving average is $10.76 and its 200 day moving average is $9.75. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 0.11. The stock has a market cap of $632.84 million, a P/E ratio of 16.07 and a beta of 1.26. Bancorp has a 52-week low of $7.64 and a 52-week high of $11.76.
Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.11. The firm had revenue of $71.08 million during the quarter, compared to analysts’ expectations of $63.76 million. Bancorp had a net margin of 20.66% and a return on equity of 12.67%. As a group, research analysts expect that Bancorp will post 1.09 EPS for the current fiscal year.
In other Bancorp news, General Counsel Bradley D. Owens sold 24,654 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $40.19, for a total transaction of $990,844.26. Also, Director Daniel G. Cohen sold 54,686 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $10.73, for a total transaction of $586,780.78. In the last quarter, insiders have acquired 13,000 shares of company stock valued at $143,410 and have sold 104,340 shares valued at $1,858,113. 11.80% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in TBBK. Anderson Hoagland & Co. lifted its holdings in shares of Bancorp by 20.8% in the 2nd quarter. Anderson Hoagland & Co. now owns 121,843 shares of the bank’s stock worth $1,084,000 after acquiring an additional 20,938 shares during the last quarter. Bailard Inc. lifted its holdings in Bancorp by 7.2% during the 2nd quarter. Bailard Inc. now owns 19,300 shares of the bank’s stock valued at $172,000 after buying an additional 1,300 shares in the last quarter. Capital Investment Counsel Inc lifted its holdings in Bancorp by 23.8% during the 2nd quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock valued at $110,000 after buying an additional 2,381 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Bancorp by 24.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,550 shares of the bank’s stock valued at $139,000 after buying an additional 3,080 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new stake in Bancorp during the 2nd quarter valued at about $965,000. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Bancorp Company Profile
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, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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