BidaskClub Upgrades Bancorp (NASDAQ:TBBK) to Buy

BidaskClub upgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a buy rating in a research report report published on Saturday, BidAskClub reports.

Several other brokerages also recently commented on TBBK. ValuEngine upgraded Bancorp from a strong sell rating to a sell rating in a research note on Thursday, February 6th. Sandler O’Neill upgraded Bancorp from a hold rating to a buy rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded Bancorp from a hold rating to a strong-buy rating and set a $14.00 target price for the company in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $14.00.

Shares of TBBK opened at $13.41 on Friday. 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 has a 50-day moving average of $12.48 and a 200-day moving average of $11.16. The company has a market cap of $776.83 million, a PE ratio of 14.74 and a beta of 1.26. Bancorp has a one year low of $7.66 and a one year high of $13.73.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 30th. The bank reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.17). The firm had revenue of $55.68 million during the quarter, compared to analyst estimates of $57.55 million. Bancorp had a net margin of 20.66% and a return on equity of 13.25%. Analysts expect that Bancorp will post 1.3 EPS for the current fiscal year.

In other news, CEO Damian Kozlowski bought 4,460 shares of Bancorp stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $11.63 per share, for a total transaction of $51,869.80. Company insiders own 11.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can bought a new position in Bancorp in the 4th quarter valued at about $43,000. C M Bidwell & Associates Ltd. bought a new position in Bancorp in the 4th quarter valued at about $68,000. Patriot Financial Partners GP LP bought a new position in Bancorp in the 3rd quarter valued at about $109,000. Bank of Montreal Can lifted its position in Bancorp by 26.9% in the 4th quarter. Bank of Montreal Can now owns 9,145 shares of the bank’s stock valued at $118,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Ellington Management Group LLC bought a new position in Bancorp in the 4th quarter valued at about $139,000. 80.60% of the stock is currently owned by institutional investors and hedge funds.

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.

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