Bancorp (NASDAQ:TBBK) Shares Gap Down – Here’s Why

The Bancorp, Inc. (NASDAQ:TBBK)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $53.59, but opened at $51.99. Bancorp shares last traded at $51.93, with a volume of 254,194 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TBBK shares. Raymond James reaffirmed an “outperform” rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler upped their price target on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th.

Bancorp Stock Down 3.9 %

The stock has a market cap of $2.47 billion, a PE ratio of 11.97 and a beta of 1.49. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $56.36 and a 200 day moving average of $54.49.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arete Wealth Advisors LLC raised its stake in shares of Bancorp by 2.6% during the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock worth $508,000 after buying an additional 242 shares during the last quarter. Napa Wealth Management lifted its holdings in shares of Bancorp by 3.8% in the fourth quarter. Napa Wealth Management now owns 6,940 shares of the bank’s stock valued at $365,000 after purchasing an additional 255 shares in the last quarter. Arcus Capital Partners LLC grew its stake in Bancorp by 5.0% in the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after acquiring an additional 315 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Bancorp by 3.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock worth $635,000 after purchasing an additional 408 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Bancorp by 8.1% during the fourth quarter. Bank of Montreal Can now owns 5,565 shares of the bank’s stock worth $293,000 after purchasing an additional 418 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

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.