The Bancorp’s (TBBK) Hold Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reiterated their hold rating on shares of The Bancorp, Inc. (NASDAQ:TBBK) in a research report released on Friday morning. The brokerage currently has a $9.00 target price on the bank’s stock.

Several other brokerages also recently commented on TBBK. Zacks Investment Research raised shares of The Bancorp from a hold rating to a buy rating and set a $9.50 price objective for the company in a research note on Wednesday, November 1st. BidaskClub raised shares of The Bancorp from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Raymond James Financial, Inc. raised shares of The Bancorp from a market perform rating to an outperform rating in a research note on Monday, July 31st. Finally, UBS AG raised shares of The Bancorp from a market perform rating to an outperform rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $8.56.

The Bancorp (NASDAQ:TBBK) opened at $9.00 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.64. The Bancorp has a one year low of $4.41 and a one year high of $9.07.

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In related news, EVP Jeffrey A. Nager purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was bought at an average cost of $7.82 per share, with a total value of $39,100.00. Following the completion of the purchase, the executive vice president now directly owns 10,000 shares in the company, valued at $78,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Castle Creek Capital Partners purchased 93,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $7.50 per share, with a total value of $702,750.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 323,700 shares of company stock valued at $2,409,100. 12.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TBBK. Bank of New York Mellon Corp raised its stake in The Bancorp by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 337,126 shares of the bank’s stock worth $1,719,000 after buying an additional 26,826 shares in the last quarter. Swiss National Bank raised its stake in The Bancorp by 43.5% in the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock worth $465,000 after buying an additional 27,600 shares in the last quarter. American International Group Inc. raised its stake in The Bancorp by 51.8% in the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock worth $156,000 after buying an additional 10,447 shares in the last quarter. California Public Employees Retirement System raised its stake in The Bancorp by 22.9% in the first quarter. California Public Employees Retirement System now owns 189,700 shares of the bank’s stock worth $967,000 after buying an additional 35,300 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in The Bancorp by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock worth $10,646,000 after buying an additional 90,800 shares in the last quarter. 76.33% of the stock is owned by institutional investors.

About The Bancorp

The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).

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