Bancorp (NASDAQ:TBBK) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research note released on Wednesday morning, ValuEngine reports.

A number of other brokerages have also commented on TBBK. BidaskClub lowered Bancorp from a sell rating to a strong sell rating in a report on Tuesday, June 11th. TheStreet upgraded Bancorp from a c rating to a b rating in a report on Monday, June 3rd. Finally, Zacks Investment Research lowered Bancorp from a buy rating to a hold rating in a report on Friday, July 26th.

Shares of Bancorp stock traded up $0.18 during trading on Wednesday, reaching $9.91. The stock had a trading volume of 165,831 shares, compared to its average volume of 185,380. The company has a market cap of $546.61 million, a P/E ratio of 11.26 and a beta of 1.26. The business’s fifty day simple moving average is $9.19. Bancorp has a 52 week low of $7.64 and a 52 week high of $10.87. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 0.13.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $54.29 million for the quarter, compared to analyst estimates of $52.99 million. Bancorp had a return on equity of 11.75% and a net margin of 29.70%. On average, analysts anticipate that Bancorp will post 0.95 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of Bancorp by 71.5% in the fourth quarter. Millennium Management LLC now owns 446,184 shares of the bank’s stock valued at $3,552,000 after acquiring an additional 186,015 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Bancorp by 39.4% in the fourth quarter. Bank of New York Mellon Corp now owns 382,241 shares of the bank’s stock valued at $3,043,000 after acquiring an additional 107,988 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Bancorp by 358.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,734 shares of the bank’s stock valued at $133,000 after acquiring an additional 13,083 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bancorp by 219.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,075 shares of the bank’s stock valued at $421,000 after acquiring an additional 35,775 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Bancorp by 1.4% in the fourth quarter. American Century Companies Inc. now owns 606,102 shares of the bank’s stock valued at $4,825,000 after acquiring an additional 8,661 shares during the last quarter. 79.21% 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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