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.
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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