Bancorp (NASDAQ:TBBK) was upgraded by equities researchers at Sandler O’Neill from a “hold” rating to a “buy” rating in a research note issued on Tuesday, December 3rd, MarketBeat.com reports.
TBBK has been the topic of a number of other research reports. ValuEngine cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. BidaskClub lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Zacks Investment Research upgraded shares of Bancorp from a “sell” rating to a “buy” rating and set a $12.00 price target for the company in a report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.00.
Bancorp stock traded down $0.12 during mid-day trading on Tuesday, reaching $12.97. The company had a trading volume of 116,781 shares, compared to its average volume of 182,263. The company has a market capitalization of $742.68 million, a P/E ratio of 18.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.61. The stock’s 50-day simple moving average is $11.72 and its 200-day simple moving average is $10.12. Bancorp has a 1 year low of $7.66 and a 1 year high of $13.73.
Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $63.76 million. On average, equities analysts forecast that Bancorp will post 1.09 EPS for the current fiscal year.
In related news, EVP Ron J. Wechsler sold 22,461 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total value of $252,686.25. Also, Director Daniel G. Cohen sold 54,686 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $10.73, for a total value of $586,780.78. In the last three months, insiders have acquired 17,460 shares of company stock worth $195,280 and have sold 104,340 shares worth $1,858,113. Corporate insiders own 11.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of 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 buying an additional 10,622 shares in the last quarter. BerganKDV Wealth Management LLC grew its position in 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 acquiring an additional 2,090 shares in the last quarter. Patriot Financial Partners GP LP acquired a new stake in Bancorp during the 3rd quarter valued at approximately $109,000. Capital Investment Counsel Inc increased 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 worth $110,000 after purchasing an additional 2,381 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased 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 worth $139,000 after purchasing an additional 3,080 shares during the last quarter. Hedge funds and other institutional investors own 78.87% of the company’s stock.
About Bancorp
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.
Further Reading: Recession
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