Bancorp (NASDAQ:TBBK) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, November 19th, BidAskClub reports.
Several other brokerages have also recently commented on TBBK. ValuEngine cut shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. 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 research report on Saturday, November 2nd. One investment 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. The company has a consensus rating of “Hold” and an average target price of $12.00.
NASDAQ TBBK traded up $0.30 on Tuesday, reaching $12.19. The company had a trading volume of 338,294 shares, compared to its average volume of 173,765. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.61 and a current ratio of 0.72. The firm has a market capitalization of $658.46 million, a price-to-earnings ratio of 17.67 and a beta of 1.27. The company’s fifty day moving average is $11.08 and its 200-day moving average is $9.84. Bancorp has a 1-year low of $7.64 and a 1-year high of $12.21.
Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.11. Bancorp had a net margin of 20.66% and a return on equity of 12.67%. The company had revenue of $71.08 million during the quarter, compared to analysts’ expectations of $63.76 million. On average, research analysts forecast that Bancorp will post 1.09 earnings per share for the current year.
In other news, Director Daniel G. Cohen sold 54,686 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $10.73, for a total value of $586,780.78. Also, EVP Ron J. Wechsler sold 22,461 shares of Bancorp stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total transaction of $252,686.25. In the last 90 days, insiders acquired 17,460 shares of company stock worth $195,280 and sold 104,340 shares worth $1,858,113. 11.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. raised its stake in Bancorp by 3,288.5% during the second quarter. Panagora Asset Management Inc. now owns 10,945 shares of the bank’s stock worth $98,000 after acquiring an additional 10,622 shares in the last quarter. BerganKDV Wealth Management LLC boosted its holdings in shares of Bancorp by 21.8% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,697 shares of the bank’s stock valued at $104,000 after acquiring an additional 2,090 shares in the last quarter. Patriot Financial Partners GP LP bought a new stake in Bancorp during the 3rd quarter worth $109,000. Capital Investment Counsel Inc increased its holdings in Bancorp by 23.8% in the 2nd 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. increased its holdings in Bancorp by 24.7% in 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 in the last quarter. Institutional investors and hedge funds 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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