Bancorp (NASDAQ:TBBK) Raised to Buy (B-) at Weiss Ratings

Bancorp (NASDAQ:TBBK) was upgraded by stock analysts at Weiss Ratings from a “hold (c+)” rating to a “buy (b-)” rating in a report issued on Saturday,Weiss Ratings reports.

Several other brokerages have also recently commented on TBBK. Jefferies Financial Group upgraded shares of Bancorp to a “buy” rating in a research report on Monday, July 7th. Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. Barclays restated a “buy” rating on shares of Bancorp in a research note on Monday, July 7th. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price target on shares of Bancorp in a research note on Friday, July 18th. Finally, Oppenheimer restated an “outperform” rating on shares of Bancorp in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Bancorp has an average rating of “Buy” and an average price target of $62.00.

Bancorp Stock Performance

TBBK opened at $78.74 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91. Bancorp has a 52-week low of $40.51 and a 52-week high of $81.65. The firm has a market cap of $3.63 billion, a P/E ratio of 16.93 and a beta of 1.31. The business’s fifty day moving average is $75.35 and its 200-day moving average is $62.63.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.01. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $94.87 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. Sell-side analysts expect that Bancorp will post 5.31 EPS for the current fiscal year.

Insider Transactions at Bancorp

In other news, EVP Ryan Harris sold 9,841 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total value of $751,557.17. Following the completion of the transaction, the executive vice president owned 129,598 shares of the company’s stock, valued at $9,897,399.26. This represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Damian Kozlowski sold 39,659 shares of Bancorp stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $62.74, for a total transaction of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares in the company, valued at approximately $41,261,337.44. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,462 shares of company stock worth $157,786 and have sold 322,841 shares worth $20,990,025. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Bancorp by 45.2% in the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after purchasing an additional 456 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Bancorp by 15.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,225 shares of the bank’s stock valued at $329,000 after buying an additional 822 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Bancorp in the first quarter valued at about $518,000. Allspring Global Investments Holdings LLC raised its position in shares of Bancorp by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,752 shares of the bank’s stock worth $897,000 after acquiring an additional 5,872 shares during the last quarter. Finally, Lisanti Capital Growth LLC lifted its stake in shares of Bancorp by 66.0% in the first quarter. Lisanti Capital Growth LLC now owns 67,885 shares of the bank’s stock worth $3,587,000 after acquiring an additional 26,990 shares during the period. Institutional investors and hedge funds 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.