Bancorp (NASDAQ:TBBK) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Bancorp (NASDAQ:TBBK) from a hold rating to a strong sell rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. William Blair set a $60.00 target price on Bancorp in a report on Wednesday, January 21st. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.50.

Bancorp Stock Down 2.8%

Shares of TBBK stock opened at $58.54 on Tuesday. The stock has a market cap of $2.57 billion, a P/E ratio of 11.90 and a beta of 1.31. Bancorp has a one year low of $40.51 and a one year high of $81.65. The stock has a fifty day moving average price of $67.63 and a 200 day moving average price of $69.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.18). Bancorp had a net margin of 26.15% and a return on equity of 28.91%. The business had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Analysts predict that Bancorp will post 5.31 earnings per share for the current year.

Insider Activity at Bancorp

In other Bancorp news, Director Mark E. Tryniski acquired 5,000 shares of Bancorp stock in a transaction on Wednesday, February 4th. The shares were bought at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the purchase, the director owned 18,966 shares in the company, valued at $1,142,322.18. This trade represents a 35.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dominic C. Canuso bought 1,800 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $61.24 per share, for a total transaction of $110,232.00. Following the acquisition, the chief financial officer directly owned 3,500 shares of the company’s stock, valued at approximately $214,340. The trade was a 105.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 8,500 shares of company stock worth $521,270 over the last three months. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after acquiring an additional 455,265 shares in the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Bancorp during the third quarter valued at approximately $13,422,000. Epoch Investment Partners Inc. increased its holdings in shares of Bancorp by 306.6% in the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock valued at $15,672,000 after purchasing an additional 157,796 shares in the last quarter. Nantahala Capital Management LLC raised its position in Bancorp by 16.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 968,503 shares of the bank’s stock worth $55,176,000 after purchasing an additional 140,000 shares during the last quarter. Finally, Invesco Ltd. raised its position in Bancorp by 4.8% in the 3rd quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock worth $208,327,000 after purchasing an additional 126,302 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.