BidaskClub Downgrades Bancorp (TBBK) to Hold

BidaskClub cut shares of Bancorp (NASDAQ:TBBK) from a buy rating to a hold rating in a research report report published on Wednesday.

A number of other research analysts also recently issued reports on TBBK. Zacks Investment Research downgraded shares of Bancorp from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies restated a hold rating and set a $9.00 target price on shares of Bancorp in a research report on Friday, November 10th. Sandler O’Neill restated a hold rating and set a $11.00 target price on shares of Bancorp in a research report on Friday, January 12th. Finally, Raymond James Financial upgraded shares of Bancorp from an outperform rating to a strong-buy rating and boosted their target price for the company from $11.00 to $13.00 in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Bancorp has a consensus rating of Buy and a consensus target price of $10.40.

Bancorp (TBBK) opened at $10.60 on Wednesday. The stock has a market cap of $582.23, a price-to-earnings ratio of 34.19 and a beta of 1.22. Bancorp has a 1 year low of $4.41 and a 1 year high of $11.28. The company has a current ratio of 0.60, a quick ratio of 0.50 and a debt-to-equity ratio of 0.16.

In other Bancorp news, Director Daniel G. Cohen sold 250,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $9.53, for a total value of $2,382,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Chrystal sold 62,285 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $9.65, for a total transaction of $601,050.25. The disclosure for this sale can be found here. Corporate insiders own 12.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Bancorp by 9.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock worth $24,283,000 after acquiring an additional 248,998 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of Bancorp by 31.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock worth $27,843,000 after acquiring an additional 681,608 shares during the period. State Street Corp raised its position in shares of Bancorp by 8.7% in the second quarter. State Street Corp now owns 926,777 shares of the bank’s stock worth $7,026,000 after acquiring an additional 74,299 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Bancorp by 54.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 625,049 shares of the bank’s stock worth $5,169,000 after acquiring an additional 220,912 shares during the period. Finally, Northern Trust Corp raised its position in shares of Bancorp by 5.5% in the second quarter. Northern Trust Corp now owns 580,583 shares of the bank’s stock worth $4,401,000 after acquiring an additional 30,467 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.com-unik.info/2018/02/04/bidaskclub-downgrades-bancorp-tbbk-to-hold.html.

Bancorp Company Profile

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).

Receive News & Ratings for Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit