Shares of The Bancorp, Inc. (NASDAQ:TBBK) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.75.
A number of analysts have commented on the stock. Zacks Investment Research raised 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 report on Wednesday, June 7th. BidaskClub cut shares of The Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. UBS AG raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, TheStreet raised shares of The Bancorp from a “d+” rating to a “c-” rating in a research report on Tuesday, June 27th.
In related news, EVP Jeffrey A. Nager acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were bought at an average price of $7.82 per share, with a total value of $39,100.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $78,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Castle Creek Capital Partners acquired 225,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were bought at an average cost of $7.41 per share, for a total transaction of $1,667,250.00. The disclosure for this purchase can be found here. Insiders have acquired 428,198 shares of company stock worth $3,097,087 in the last ninety days. Insiders own 12.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its position in shares of The Bancorp by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock worth $167,000 after purchasing an additional 117 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of The Bancorp by 2.1% during the 2nd quarter. Nationwide Fund Advisors now owns 40,031 shares of the bank’s stock worth $303,000 after purchasing an additional 805 shares in the last quarter. Rhumbline Advisers boosted its position in shares of The Bancorp by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 57,725 shares of the bank’s stock worth $438,000 after purchasing an additional 3,010 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of The Bancorp by 9.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock worth $189,000 after purchasing an additional 3,261 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of The Bancorp by 0.8% during the 1st quarter. Russell Investments Group Ltd. now owns 453,651 shares of the bank’s stock worth $2,314,000 after purchasing an additional 3,644 shares in the last quarter. 74.94% of the stock is currently owned by institutional investors.
Shares of The Bancorp (TBBK) traded up 0.52% during mid-day trading on Tuesday, reaching $7.79. The company had a trading volume of 172,029 shares. The Bancorp has a one year low of $4.41 and a one year high of $8.20. The firm’s market capitalization is $434.35 million. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $6.44.
The Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $0.11 earnings per share for the quarter, topping the 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 company had revenue of $45.39 million for the quarter, compared to analysts’ expectations of $42.40 million. Equities analysts predict that The Bancorp will post $0.48 EPS for the current year.
The 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).
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