The Bancorp, Inc. (NASDAQ:TBBK) Receives $59.50 Consensus Target Price from Brokerages

The Bancorp, Inc. (NASDAQ:TBBK) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $59.50.

Several brokerages have recently issued reports on TBBK. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Bank of America set a $60.00 target price on Bancorp in a report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Finally, Piper Sandler assumed coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target for the company.

Insider Activity at Bancorp

In related news, Director Mark E. Tryniski bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the transaction, the director owned 18,966 shares of the company’s stock, valued at $1,142,322.18. The trade was a 35.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dominic C. Canuso bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average price of $60.54 per share, with a total value of $121,080.00. Following the completion of the purchase, the chief financial officer owned 16,169 shares in the company, valued at approximately $978,871.26. The trade was a 14.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 9,080 shares of company stock worth $548,933. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Bancorp Price Performance

Shares of Bancorp stock opened at $53.09 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $61.26 and a 200-day simple moving average of $67.48. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.79 and a beta of 1.31. Bancorp has a 1-year low of $40.51 and a 1-year high of $81.65.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The firm had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. Bancorp had a net margin of 25.94% and a return on equity of 28.91%. On average, sell-side analysts expect that Bancorp will post 5.31 earnings per share for the current year.

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.