The Bancorp, Inc. (NASDAQ:TBBK) Receives $61.50 Consensus PT from Brokerages

Shares of The Bancorp, Inc. (NASDAQ:TBBK) have received an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $63.40.

TBBK has been the subject of several analyst reports. Wall Street Zen upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Keefe, Bruyette & Woods upgraded shares of Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the company from $72.00 to $77.00 in a report on Thursday, July 9th. Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th.

Insider Buying and Selling

In related news, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the sale, the executive vice president directly owned 32,880 shares of the company’s stock, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the transaction, the chief marketing officer owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of TBBK. Invesco Ltd. grew its holdings in Bancorp by 4.8% during the 3rd quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock worth $208,327,000 after acquiring an additional 126,302 shares in the last quarter. Janus Henderson Group PLC increased its position in Bancorp by 19.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock valued at $58,296,000 after purchasing an additional 172,925 shares during the period. Nantahala Capital Management LLC raised its holdings in shares of Bancorp by 25.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock valued at $72,360,000 after purchasing an additional 219,351 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Bancorp by 8.5% in the 4th quarter. Brown Advisory Inc. now owns 905,876 shares of the bank’s stock worth $61,165,000 after purchasing an additional 71,299 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after purchasing an additional 455,265 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

NASDAQ:TBBK opened at $68.40 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of 13.31 and a beta of 1.19. The stock’s fifty day moving average is $58.59 and its 200 day moving average is $59.45. Bancorp has a fifty-two week low of $50.20 and a fifty-two week high of $81.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The company had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. On average, sell-side analysts anticipate that Bancorp will post 5.95 earnings per share for the current year.

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.