Bancorp (NASDAQ:TBBK) Raised to “Hold” at StockNews.com

Bancorp (NASDAQ:TBBK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Raymond James boosted their target price on shares of Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, January 29th.

Bancorp Stock Up 1.0 %

Shares of NASDAQ:TBBK traded up $0.31 during mid-day trading on Monday, reaching $31.11. 1,461,757 shares of the stock were exchanged, compared to its average volume of 654,567. The stock’s 50 day simple moving average is $35.76 and its 200-day simple moving average is $37.97. Bancorp has a one year low of $28.04 and a one year high of $47.11. The company has a market cap of $1.63 billion, a P/E ratio of 8.45 and a beta of 1.45. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. Bancorp had a net margin of 39.94% and a return on equity of 26.32%. During the same period in the prior year, the firm earned $0.88 EPS. As a group, equities research analysts predict that Bancorp will post 4.25 EPS for the current year.

Insiders Place Their Bets

In other Bancorp news, Director Daniela Mielke acquired 3,315 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the transaction, the director now directly owns 26,715 shares in the company, valued at approximately $1,205,647.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Daniela Mielke acquired 3,315 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were 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 directly owns 26,715 shares in the company, valued at $1,205,647.95. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Cohn bought 2,485 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $34.21 per share, with a total value of $85,011.85. Following the purchase, the director now owns 157,627 shares in the company, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,800 shares of company stock valued at $308,838 over the last 90 days. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bancorp

A number of large investors have recently made changes to their positions in the company. Carmel Capital Partners LLC bought a new stake in Bancorp in the 3rd quarter valued at $34,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Bancorp in the third quarter valued at about $88,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Bancorp in the third quarter valued at about $103,000. Quest Partners LLC bought a new position in Bancorp during the fourth quarter worth about $115,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Bancorp in the 3rd quarter worth about $157,000. 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.