Bancorp (NASDAQ:TBBK) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a research report report published on Sunday.

Separately, Piper Sandler boosted their target price on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd.

Bancorp Stock Performance

NASDAQ:TBBK opened at $53.52 on Friday. The company has a 50-day moving average of $55.01 and a 200-day moving average of $51.43. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 13.52 and a beta of 1.49. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. Bancorp has a twelve month low of $29.92 and a twelve month high of $61.17.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter in the previous year, the business posted $0.92 earnings per share. Analysts forecast that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Bancorp

In related news, Director Matthew Cohn purchased 545 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the purchase, the director now owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now directly owns 73,114 shares in the company, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bancorp

A number of large investors have recently added to or reduced their stakes in TBBK. Blue Trust Inc. grew its position in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. Point72 DIFC Ltd bought a new position in Bancorp in the third quarter worth $54,000. GAMMA Investing LLC boosted its stake in Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after buying an additional 327 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after buying an additional 741 shares during the period. Finally, National Bank of Canada FI acquired a new position in shares of Bancorp in the 3rd quarter valued at $77,000. Institutional investors own 96.22% of the company’s stock.

About Bancorp

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.