Bancorp Inc (NASDAQ:TBBK) was the recipient of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 245,700 shares, a decline of 6.4% from the November 14th total of 262,500 shares. Based on an average daily volume of 193,700 shares, the short-interest ratio is currently 1.3 days. Currently, 0.5% of the shares of the company are sold short.
NASDAQ TBBK opened at $12.82 on Tuesday. 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 company has a fifty day simple moving average of $11.32 and a 200 day simple moving average of $9.93. The company has a market cap of $729.60 million, a P/E ratio of 18.58 and a beta of 1.27. Bancorp has a 1 year low of $7.64 and a 1 year high of $12.85.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.11. The business had revenue of $71.08 million during the quarter, compared to the consensus estimate of $63.76 million. Bancorp had a net margin of 20.66% and a return on equity of 12.67%. Equities research analysts forecast that Bancorp will post 1.09 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Bancorp from a “hold” rating to a “buy” rating in a research note on Friday. Sandler O’Neill raised shares of Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. ValuEngine downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, Zacks Investment Research raised shares of Bancorp from a “sell” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Bancorp presently has a consensus rating of “Buy” and an average price target of $12.00.
In related news, General Counsel Bradley D. Owens sold 24,654 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $40.19, for a total transaction of $990,844.26. Also, CEO Damian Kozlowski bought 4,460 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $11.63 per share, with a total value of $51,869.80. Over the last three months, insiders have acquired 17,460 shares of company stock valued at $195,280 and have sold 104,340 shares valued at $1,858,113. Insiders own 11.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. boosted its holdings in shares of Bancorp by 3,288.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 10,945 shares of the bank’s stock worth $98,000 after buying an additional 10,622 shares during the period. Patriot Financial Partners GP LP bought a new stake in Bancorp in the 3rd quarter valued at $109,000. BerganKDV Wealth Management LLC boosted its holdings in Bancorp by 21.8% in the 2nd 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. Los Angeles Capital Management & Equity Research Inc. boosted 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 valued at $139,000 after purchasing an additional 3,080 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Bancorp by 24.2% in the 2nd quarter. Bank of Montreal Can now owns 15,758 shares of the bank’s stock valued at $141,000 after purchasing an additional 3,071 shares during the period. 78.87% of the stock is owned by institutional investors and hedge funds.
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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