Piper Sandler Issues Positive Forecast for Bancorp (NASDAQ:TBBK) Stock Price

Bancorp (NASDAQ:TBBK) had its target price lifted by Piper Sandler from $61.00 to $64.00 in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Separately, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 19th.

Bancorp Stock Up 0.1 %

Shares of NASDAQ TBBK opened at $53.36 on Monday. Bancorp has a 1 year low of $29.92 and a 1 year high of $61.17. The firm’s 50-day moving average is $55.18 and its 200-day moving average is $49.44. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.56 billion, a PE ratio of 13.47 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. Equities analysts expect that Bancorp will post 4.3 EPS for the current year.

Insiders Place Their Bets

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,983 shares of company stock worth $1,345,366. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC acquired a new stake in shares of Bancorp in the 2nd quarter valued at about $12,757,000. Franklin Resources Inc. grew its holdings in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after buying an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Bancorp in the 3rd quarter valued at approximately $6,100,000. Marshall Wace LLP raised its position in Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after buying an additional 96,072 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock valued at $12,739,000 after acquiring an additional 70,768 shares in the last quarter. 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.