Wall Street Zen Downgrades Bancorp (NASDAQ:TBBK) to Sell

Bancorp (NASDAQ:TBBK) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Wednesday.

TBBK has been the topic of a number of other reports. Keefe, Bruyette & Woods dropped their target price on shares of Bancorp from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Raymond James restated an “outperform” rating and issued a $67.00 target price (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd.

Bancorp Stock Down 0.6%

Shares of TBBK stock opened at $51.78 on Wednesday. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.04 and a beta of 1.31. Bancorp has a one year low of $31.34 and a one year high of $65.84. The company’s fifty day moving average price is $50.03 and its 200-day moving average price is $53.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Bancorp had a net margin of 30.97% and a return on equity of 27.33%. The company had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. Sell-side analysts expect that Bancorp will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Bancorp

Several hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Bancorp during the 1st quarter worth approximately $39,000. Smartleaf Asset Management LLC increased its stake in Bancorp by 191.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after purchasing an additional 489 shares in the last quarter. R Squared Ltd acquired a new position in Bancorp during the 4th quarter valued at approximately $45,000. Brooklyn Investment Group acquired a new position in Bancorp during the 1st quarter valued at approximately $58,000. Finally, GAMMA Investing LLC increased its stake in Bancorp by 45.2% during the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after purchasing an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

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.