Bancorp (NASDAQ:TBBK) Stock Rating Lowered by Zacks Research

Bancorp (NASDAQ:TBBK) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

TBBK has been the topic of a number of other research reports. Raymond James Financial restated an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a research note on Tuesday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $79.00 target price (up from $77.00) on shares of Bancorp in a research report on Monday, August 3rd. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Stephens restated an “equal weight” rating and issued a $59.00 price target on shares of Bancorp in a research report on Wednesday, October 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 target price on shares of Bancorp in a research report on Tuesday, October 20th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.88.

Bancorp Stock Up 1.5%

TBBK stock opened at $47.34 on Tuesday. Bancorp has a fifty-two week low of $45.08 and a fifty-two week high of $73.02. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.32 and a beta of 1.20. The business’s fifty day moving average price is $52.41 and its two-hundred day moving average price is $58.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.87.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 earnings per share for the quarter, hitting the consensus estimate of $1.47. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. The business had revenue of $135.89 million during the quarter, compared to analysts’ expectations of $154.86 million. On average, equities analysts anticipate that Bancorp will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn bought 1,000 shares of Bancorp stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average cost of $45.54 per share, with a total value of $45,540.00. Following the acquisition, the director directly owned 63,111 shares of the company’s stock, valued at $2,874,074.94. The trade was a 1.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Bancorp in the second quarter worth $25,000. Versant Capital Management Inc increased its holdings in Bancorp by 177.3% in the third quarter. Versant Capital Management Inc now owns 1,198 shares of the bank’s stock valued at $58,000 after purchasing an additional 766 shares during the period. Sterling Capital Management LLC increased its holdings in Bancorp by 840.4% in the third quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,185 shares during the period. Parallel Advisors LLC raised its position in Bancorp by 4,089.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank’s stock worth $79,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Nykredit A S bought a new position in Bancorp during the 2nd quarter worth $167,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.