Other equities research analysts also recently issued research reports about the stock. Sandler O’Neill raised shares of Bancorp from a hold rating to a buy rating in a research report on Tuesday. Zacks Investment Research upgraded Bancorp from a sell rating to a buy rating and set a $12.00 price objective for the company in a research note on Saturday, November 2nd. Finally, ValuEngine downgraded shares of Bancorp from a hold rating to a sell rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Bancorp has an average rating of Hold and a consensus price target of $12.00.
Shares of TBBK stock traded up $0.16 on Wednesday, reaching $11.51. The stock had a trading volume of 58,602 shares, compared to its average volume of 170,780. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.61 and a current ratio of 0.72. Bancorp has a 1 year low of $7.64 and a 1 year high of $11.76. The stock has a market cap of $645.94 million, a P/E ratio of 16.67 and a beta of 1.27. The company has a 50 day simple moving average of $10.89 and a 200 day simple moving average of $9.78.
Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.11. Bancorp had a return on equity of 12.67% and a net margin of 20.66%. The company had revenue of $71.08 million for the quarter, compared to the consensus estimate of $63.76 million. On average, equities research analysts anticipate that Bancorp will post 1.09 earnings per share for the current fiscal year.
In related news, Director Daniel G. Cohen sold 54,686 shares of the company’s 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. Also, 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. In the last 90 days, insiders have purchased 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 currently owned by corporate insiders.
Several large investors have recently made changes to their positions in TBBK. Panagora Asset Management Inc. lifted its position in Bancorp by 3,288.5% during the second quarter. Panagora Asset Management Inc. now owns 10,945 shares of the bank’s stock valued at $98,000 after purchasing an additional 10,622 shares during the period. BerganKDV Wealth Management LLC grew its position in shares of Bancorp by 21.8% in the second quarter. BerganKDV Wealth Management LLC now owns 11,697 shares of the bank’s stock valued at $104,000 after purchasing an additional 2,090 shares during the period. Patriot Financial Partners GP LP purchased a new stake in shares of Bancorp during the third quarter worth about $109,000. Capital Investment Counsel Inc increased its stake in shares of Bancorp by 23.8% during the second quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock worth $110,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of 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 worth $139,000 after purchasing an additional 3,080 shares during the last quarter. 78.87% of the stock is owned by hedge funds and other institutional investors.
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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