Zacks Investment Research Upgrades Bancorp (NASDAQ:TBBK) to Buy

Bancorp (NASDAQ:TBBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm currently has a $10.00 price target on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.95% from the company’s current price.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

TBBK has been the subject of a number of other research reports. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Finally, TheStreet downgraded Viavi Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 3rd.

Shares of Bancorp stock opened at $9.35 on Friday. The stock’s fifty day moving average is $9.05. Bancorp has a 12-month low of $7.64 and a 12-month high of $11.02. The company has a market capitalization of $520.64 million, a P/E ratio of 13.55 and a beta of 1.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.70 and a quick ratio of 0.56.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $64.38 million during the quarter, compared to the consensus estimate of $60.19 million. Bancorp had a return on equity of 10.97% and a net margin of 29.70%. On average, sell-side analysts anticipate that Bancorp will post 0.95 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Frontier Capital Management Co. LLC grew its stake in Bancorp by 1.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 4,334,681 shares of the bank’s stock valued at $35,024,000 after purchasing an additional 76,262 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Bancorp by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,711,755 shares of the bank’s stock valued at $29,546,000 after buying an additional 112,103 shares during the last quarter. BlackRock Inc. lifted its position in shares of Bancorp by 2.0% during the 4th quarter. BlackRock Inc. now owns 3,684,587 shares of the bank’s stock valued at $29,329,000 after buying an additional 71,966 shares during the last quarter. Nantahala Capital Management LLC lifted its position in shares of Bancorp by 1.6% during the 4th quarter. Nantahala Capital Management LLC now owns 2,467,817 shares of the bank’s stock valued at $19,644,000 after buying an additional 38,678 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA lifted its position in shares of Bancorp by 6.7% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 1,470,729 shares of the bank’s stock valued at $11,883,000 after buying an additional 92,236 shares during the last quarter. Hedge funds and other institutional investors own 79.49% of the company’s stock.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

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