Several other equities research analysts have also recently commented on TBBK. Sandler O’Neill raised Bancorp from a hold rating to a buy rating in a research report on Tuesday, December 3rd. ValuEngine downgraded Bancorp from a hold rating to a sell rating in a report on Tuesday, November 5th. Finally, Zacks Investment Research raised Bancorp from a sell rating to a buy rating and set a $12.00 target price on the stock in a report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $12.00.
TBBK stock traded up $0.45 during midday trading on Wednesday, hitting $12.64. The stock had a trading volume of 12,123 shares, compared to its average volume of 237,070. The firm has a market cap of $661.87 million, a price-to-earnings ratio of 18.30 and a beta of 1.27. The business has a 50-day moving average of $11.12 and a two-hundred day moving average of $9.85. Bancorp has a 52-week low of $7.64 and a 52-week high of $12.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.61.
Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $0.38 EPS for the quarter, topping 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 firm had revenue of $71.08 million for the quarter, compared to analysts’ expectations of $63.76 million. Research analysts predict that Bancorp will post 1.09 earnings per share for the current year.
In related news, Director Matthew Cohn bought 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was purchased at an average price of $11.00 per share, for a total transaction of $110,000.00. Also, EVP Ron J. Wechsler sold 22,461 shares of Bancorp stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total value of $252,686.25. In the last three months, insiders have purchased 17,460 shares of company stock worth $195,280 and have sold 104,340 shares worth $1,858,113. 11.80% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. raised its position in Bancorp by 3,288.5% during the 2nd 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 in the last quarter. BerganKDV Wealth Management LLC grew its stake in Bancorp by 21.8% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,697 shares of the bank’s stock worth $104,000 after buying an additional 2,090 shares during the last quarter. Patriot Financial Partners GP LP purchased a new position in Bancorp during the 3rd quarter worth $109,000. Capital Investment Counsel Inc grew its stake in Bancorp by 23.8% during the 2nd quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock worth $110,000 after buying an additional 2,381 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake 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 worth $139,000 after buying 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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