Bancorp (NASDAQ:TBBK) Stock Rating Lowered by StockNews.com

Bancorp (NASDAQ:TBBK) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Piper Sandler boosted their target price on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd.

Bancorp Stock Performance

NASDAQ:TBBK opened at $51.33 on Friday. The stock has a 50-day simple moving average of $54.96 and a two-hundred day simple moving average of $51.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. Bancorp has a 52-week low of $29.92 and a 52-week high of $61.17. The firm has a market capitalization of $2.46 billion, a PE ratio of 12.96 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same quarter last year, the firm posted $0.92 earnings per share. Analysts forecast that Bancorp will post 4.3 EPS for the current year.

Insider Activity at Bancorp

In related news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This trade represents a 32.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Cohn purchased 545 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the transaction, the director now owns 56,636 shares of the company’s stock, valued at $2,838,029.96. This represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of TBBK. JPMorgan Chase & Co. raised its holdings in shares of Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares during the period. Lord Abbett & CO. LLC grew its position in Bancorp by 23.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after acquiring an additional 56,959 shares during the last quarter. Franklin Resources Inc. increased its stake in Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Bancorp during the third quarter worth $300,000. Finally, Geode Capital Management LLC boosted its stake in shares of Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after purchasing an additional 6,459 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

About Bancorp

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.