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

Bancorp (NASDAQ:TBBK) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Separately, Piper Sandler lifted their price objective on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd.

Bancorp Price Performance

Shares of TBBK stock opened at $51.33 on Friday. Bancorp has a twelve month low of $29.92 and a twelve month high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $54.96 and a two-hundred day simple moving average of $51.32. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.96 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period last year, the company earned $0.92 earnings per share. On average, analysts predict that Bancorp will post 4.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bancorp news, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the transaction, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC acquired a new stake in Bancorp in the 2nd quarter worth approximately $12,757,000. JPMorgan Chase & Co. lifted its stake in shares of Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares during the period. Franklin Resources Inc. grew its holdings in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after buying an additional 144,867 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of Bancorp in the 3rd quarter valued at $6,100,000. Finally, Marshall Wace LLP raised its stake in Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after acquiring an additional 96,072 shares during the last quarter. Institutional investors and hedge funds 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.