Brokerages Set The Bancorp, Inc. (NASDAQ:TBBK) Price Target at $59.50

The Bancorp, Inc. (NASDAQ:TBBK) has received an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.50.

A number of research firms have issued reports on TBBK. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Piper Sandler began coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 target price for the company. 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 set a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Finally, Wolfe Research set a $57.00 price target on Bancorp in a research report on Monday, February 9th.

Bancorp Stock Performance

Shares of TBBK stock opened at $58.52 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market capitalization of $2.47 billion, a P/E ratio of 11.89 and a beta of 1.28. The company’s 50 day moving average price is $55.82 and its two-hundred day moving average price is $64.67. Bancorp has a 52 week low of $41.46 and a 52 week high of $81.65.

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

Insider Transactions at Bancorp

In other news, Director Mark E. Tryniski purchased 5,000 shares of Bancorp stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of $60.23 per share, with a total value of $301,150.00. Following the transaction, the director directly owned 18,966 shares in the company, valued at $1,142,322.18. The trade was a 35.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ryan Harris sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $53.18, for a total value of $239,310.00. Following the transaction, the executive vice president directly owned 150,516 shares of the company’s stock, valued at approximately $8,004,440.88. This trade represents a 2.90% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 9,080 shares of company stock worth $548,933. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC lifted its position in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Bancorp during the 4th quarter worth approximately $27,000. Bessemer Group Inc. increased its position in shares of Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Bancorp during the 2nd quarter worth approximately $53,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after purchasing an additional 659 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

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.