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.
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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