Keefe, Bruyette & Woods Reiterates Outperform Rating for Bancorp (NASDAQ:TBBK)

Bancorp (NASDAQ:TBBK)‘s stock had its “outperform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research note issued on Monday, Benzinga reports. They currently have a $55.00 target price on the bank’s stock, up from their prior target price of $46.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 7.57% from the stock’s previous close.

TBBK has been the topic of a number of other research reports. Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th.

Bancorp Trading Down 1.7 %

TBBK stock traded down $0.91 during trading on Monday, reaching $51.13. The company had a trading volume of 142,897 shares, compared to its average volume of 631,179. Bancorp has a 52 week low of $29.92 and a 52 week high of $53.18. The company has a market cap of $2.67 billion, a P/E ratio of 13.89 and a beta of 1.47. The business has a 50 day moving average of $37.90 and a 200 day moving average of $37.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $123.80 million for the quarter, compared to analysts’ expectations of $126.86 million. Bancorp had a net margin of 40.00% and a return on equity of 26.81%. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, sell-side analysts forecast that Bancorp will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total transaction of $362,218.08. Following the sale, the executive vice president now owns 15,262 shares in the company, valued at $491,131.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Cheryl Creuzot sold 766 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the sale, the director now owns 7,638 shares in the company, valued at $249,304.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total transaction of $362,218.08. Following the transaction, the executive vice president now owns 15,262 shares in the company, valued at approximately $491,131.16. The disclosure for this sale can be found here. Insiders have bought a total of 1,706 shares of company stock worth $54,962 over the last 90 days. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the period. EverSource Wealth Advisors LLC lifted its position in Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares during the period. Quest Partners LLC bought a new position in Bancorp during the fourth quarter valued at approximately $115,000. Summit Asset Management LLC bought a new position in Bancorp during the fourth quarter valued at approximately $202,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Bancorp during the second quarter valued at approximately $216,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.