Bancorp (NASDAQ:TBBK) Downgraded by Keefe, Bruyette & Woods to “Market Perform”

Keefe, Bruyette & Woods downgraded shares of Bancorp (NASDAQ:TBBK) from an outperform rating to a market perform rating in a research report report published on Thursday morning, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has $65.00 target price on the bank’s stock, down from their prior target price of $70.00.

Separately, Wall Street Zen lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st.

Bancorp Price Performance

TBBK stock opened at $51.21 on Thursday. The firm has a 50 day moving average price of $49.83 and a 200-day moving average price of $53.32. Bancorp has a 52-week low of $32.56 and a 52-week high of $65.84. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89.

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

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its holdings in Bancorp by 1.2% in the 1st quarter. SummerHaven Investment Management LLC now owns 19,246 shares of the bank’s stock worth $1,017,000 after acquiring an additional 236 shares during the last quarter. Arete Wealth Advisors LLC grew its position in Bancorp by 2.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock worth $508,000 after purchasing an additional 242 shares during the period. Napa Wealth Management grew its position in Bancorp by 3.8% in the 4th quarter. Napa Wealth Management now owns 6,940 shares of the bank’s stock worth $365,000 after purchasing an additional 255 shares during the period. Arcus Capital Partners LLC grew its position in Bancorp by 5.0% in the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after purchasing an additional 315 shares during the period. Finally, First Hawaiian Bank grew its position in Bancorp by 3.3% in the 1st quarter. First Hawaiian Bank now owns 12,136 shares of the bank’s stock worth $641,000 after purchasing an additional 385 shares during the period. 96.22% of the stock is currently owned by hedge funds and other 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.