Bancorp (NASDAQ:TBBK) Cut to Sell at StockNews.com

StockNews.com lowered shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a research report report published on Friday morning.

TBBK has been the subject of several other research reports. Keefe, Bruyette & Woods cut their target price on Bancorp from $52.00 to $46.00 and set an outperform rating for the company in a research note on Friday, April 5th. Piper Sandler upped their price objective on Bancorp from $49.00 to $51.00 and gave the company an overweight rating in a research note on Thursday, December 21st. Finally, Raymond James increased their target price on Bancorp from $42.00 to $50.00 and gave the stock an outperform rating in a research note on Monday, January 29th.

Bancorp Price Performance

Shares of TBBK stock opened at $34.50 on Friday. Bancorp has a twelve month low of $25.97 and a twelve month high of $47.11. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.86 and a beta of 1.45. The stock has a fifty day simple moving average of $36.83 and a two-hundred day simple moving average of $38.03. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The business had revenue of $119.15 million for the quarter, compared to analyst estimates of $118.52 million. On average, analysts predict that Bancorp will post 4.42 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephanie B. Mudick purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were bought at an average price of $37.11 per share, with a total value of $74,220.00. Following the completion of the acquisition, the director now owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bancorp news, Director Daniela Mielke acquired 3,315 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average cost of $45.13 per share, for a total transaction of $149,605.95. Following the completion of the acquisition, the director now owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephanie B. Mudick bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were purchased at an average cost of $37.11 per share, with a total value of $74,220.00. Following the transaction, the director now owns 31,584 shares in the company, valued at $1,172,082.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 7,800 shares of company stock valued at $308,838. Insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. SummerHaven Investment Management LLC lifted its holdings in Bancorp by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,853 shares of the bank’s stock valued at $804,000 after buying an additional 269 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Bancorp by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 28,396 shares of the bank’s stock worth $1,095,000 after acquiring an additional 319 shares during the period. Natixis Advisors L.P. grew its position in Bancorp by 1.3% in the fourth quarter. Natixis Advisors L.P. now owns 33,390 shares of the bank’s stock valued at $1,287,000 after purchasing an additional 418 shares in the last quarter. Teacher Retirement System of Texas grew its position in Bancorp by 0.9% in the third quarter. Teacher Retirement System of Texas now owns 46,980 shares of the bank’s stock valued at $1,621,000 after purchasing an additional 419 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Bancorp by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 48,260 shares of the bank’s stock valued at $1,861,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.