The Bancorp, Inc. (NASDAQ:TBBK) Downgraded by BidaskClub to “Hold”

The Bancorp, Inc. (NASDAQ:TBBK) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities research analysts have also commented on TBBK. TheStreet lowered shares of The Bancorp from a “c-” rating to a “d” rating in a research note on Monday, April 24th. BTIG Research upgraded shares of The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Monday, May 1st. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, June 7th. ValuEngine upgraded shares of The Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $6.50 price target on shares of The Bancorp in a research note on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The Bancorp currently has an average rating of “Buy” and a consensus price target of $7.75.

The Bancorp (NASDAQ TBBK) traded down 1.08% during trading on Friday, reaching $7.36. 221,858 shares of the company’s stock traded hands. The company has a 50 day moving average price of $7.62 and a 200-day moving average price of $6.17. The Bancorp has a 12-month low of $4.41 and a 12-month high of $8.20. The company’s market cap is $410.37 million.

The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. The firm had revenue of $45.39 million for the quarter, compared to analyst estimates of $42.40 million. On average, equities research analysts forecast that The Bancorp will post $0.48 EPS for the current fiscal year.

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In other The Bancorp news, CAO John Leto acquired 40,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were bought at an average cost of $6.61 per share, with a total value of $264,400.00. Following the transaction, the chief accounting officer now owns 135,762 shares of the company’s stock, valued at approximately $897,386.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter T. Beach sold 33,640 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $6.26, for a total transaction of $210,586.40. Following the transaction, the director now directly owns 362,829 shares in the company, valued at $2,271,309.54. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 104,498 shares of company stock worth $687,987 and have sold 286,973 shares worth $1,935,818. Company insiders own 12.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of The Bancorp by 26.3% in the fourth quarter. State Street Corp now owns 736,929 shares of the bank’s stock valued at $5,792,000 after buying an additional 153,310 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of The Bancorp by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,304,844 shares of the bank’s stock valued at $18,116,000 after buying an additional 313,419 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of The Bancorp by 79.0% in the fourth quarter. Renaissance Technologies LLC now owns 165,800 shares of the bank’s stock valued at $1,303,000 after buying an additional 73,200 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of The Bancorp by 31.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,798 shares of the bank’s stock valued at $266,000 after buying an additional 8,087 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of The Bancorp by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 98,724 shares of the bank’s stock valued at $776,000 after buying an additional 26,624 shares during the last quarter. 77.40% of the stock is currently owned by institutional investors.

About The Bancorp

The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).

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