Brokerages Set The Bancorp, Inc. (NASDAQ:TBBK) Target Price at $58.20

Shares of The Bancorp, Inc. (NASDAQ:TBBK) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $58.20.

Several brokerages have issued reports on TBBK. Bank of America set a $60.00 price target on Bancorp in a report on Wednesday, January 21st. Piper Sandler reissued an “overweight” rating on shares of Bancorp in a research report on Monday, February 9th. Wolfe Research set a $57.00 target price on shares of Bancorp in a report on Monday, February 9th. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st.

Bancorp Stock Performance

Shares of TBBK opened at $57.86 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a 50-day moving average of $66.14 and a 200-day moving average of $69.09. The company has a market cap of $2.54 billion, a PE ratio of 11.76 and a beta of 1.31. Bancorp has a one year low of $40.51 and a one year high of $81.65.

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

Insider Activity at Bancorp

In other news, Director Mark E. Tryniski bought 5,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was bought at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the acquisition, the director owned 18,966 shares of the company’s stock, valued at $1,142,322.18. This represents a 35.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew Cohn acquired 680 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was acquired at an average price of $62.14 per share, with a total value of $42,255.20. Following the purchase, the director directly owned 3,655 shares in the company, valued at approximately $227,121.70. This represents a 22.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 9,080 shares of company stock worth $548,933 in the last ninety days. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Summit Global Investments bought a new stake in shares of Bancorp during the 4th quarter valued at $246,000. EP Wealth Advisors LLC acquired a new position in Bancorp in the fourth quarter valued at about $222,000. XTX Topco Ltd bought a new stake in Bancorp during the fourth quarter worth about $3,748,000. Twinbeech Capital LP acquired a new stake in Bancorp during the fourth quarter worth about $205,000. Finally, Numerai GP LLC acquired a new stake in Bancorp during the fourth quarter worth about $215,000. Institutional investors own 96.22% of the company’s stock.

About Bancorp

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.