Bancorp (TBBK) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a report published on Tuesday morning.

Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Bancorp from a sell rating to a hold rating in a report on Wednesday, October 10th. TheStreet downgraded shares of Bancorp from a b rating to a c rating in a report on Thursday, August 30th. Finally, ValuEngine downgraded shares of Bancorp from a hold rating to a sell rating in a report on Tuesday, October 2nd. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $11.25.

Shares of NASDAQ TBBK opened at $10.00 on Tuesday. The company has a market cap of $514.22 million, a PE ratio of 19.61 and a beta of 1.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.63 and a quick ratio of 0.51. Bancorp has a 1 year low of $8.39 and a 1 year high of $12.00.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 25th. The bank reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.31). The firm had revenue of $121.60 million for the quarter, compared to analyst estimates of $120.75 million. Bancorp had a return on equity of 11.88% and a net margin of 6.61%. On average, sell-side analysts expect that Bancorp will post 0.74 EPS for the current fiscal year.

In related news, Director Daniel G. Cohen sold 25,000 shares of Bancorp stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $9.63, for a total value of $240,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel G. Cohen sold 140,000 shares of Bancorp stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $9.83, for a total transaction of $1,376,200.00. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC increased its holdings in Bancorp by 22.1% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,258,794 shares of the bank’s stock valued at $40,842,000 after purchasing an additional 769,978 shares during the last quarter. BlackRock Inc. increased its holdings in Bancorp by 10.5% in the 2nd quarter. BlackRock Inc. now owns 3,561,159 shares of the bank’s stock valued at $37,250,000 after purchasing an additional 339,576 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,448,573 shares of the bank’s stock valued at $36,073,000 after purchasing an additional 145,998 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Bancorp by 25.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,887,109 shares of the bank’s stock valued at $19,739,000 after purchasing an additional 379,400 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its holdings in Bancorp by 4.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,711,379 shares of the bank’s stock valued at $17,901,000 after purchasing an additional 72,724 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and prepaid and debit cards.

Recommended Story: Exchange-Traded Funds (ETFs)

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.

Leave a Reply