Bancorp (NASDAQ:TBBK) Lowered to Sell at StockNews.com

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

TBBK has been the topic of a number of other research reports. Raymond James upped their target price on shares of Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 5th. Finally, Piper Sandler upped their price objective on shares of Bancorp from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, December 21st.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $33.94 on Friday. The firm’s 50-day moving average price is $37.03 and its 200-day moving average price is $38.01. Bancorp has a 1-year low of $25.97 and a 1-year high of $47.11. The firm has a market capitalization of $1.77 billion, a P/E ratio of 9.70 and a beta of 1.45. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. The company had revenue of $119.15 million for the quarter, compared to analyst estimates of $118.52 million. Equities research analysts anticipate that Bancorp will post 4.42 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniela Mielke bought 3,315 shares of Bancorp stock in a transaction dated Wednesday, January 31st. The stock was purchased at an average cost of $45.13 per share, with a total value of $149,605.95. Following the transaction, the director now directly owns 26,715 shares of the company’s stock, valued at $1,205,647.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Matthew Cohn bought 2,485 shares of Bancorp stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $34.21 per share, with a total value of $85,011.85. Following the transaction, the director now directly owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniela Mielke bought 3,315 shares of Bancorp stock in a transaction dated Wednesday, January 31st. The shares were bought at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the transaction, the director now directly owns 26,715 shares in the company, valued at $1,205,647.95. The disclosure for this purchase can be found here. Insiders purchased 7,800 shares of company stock valued at $308,838 in the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TBBK. Carmel Capital Partners LLC bought a new position in Bancorp in the 3rd quarter worth approximately $34,000. Advisor Group Holdings Inc. boosted its holdings in Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after buying an additional 935 shares during the period. Coppell Advisory Solutions LLC bought a new position in Bancorp in the 2nd quarter worth approximately $45,000. Federated Hermes Inc. lifted its stake in Bancorp by 28.1% in the 3rd quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock worth $50,000 after purchasing an additional 500 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in Bancorp in the 4th quarter worth approximately $56,000. 96.22% of the stock is owned by institutional investors.

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.