Bancorp (TBBK) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a strong-buy rating in a research note published on Wednesday morning. The brokerage currently has $11.00 price objective on the bank’s stock.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

Several other research firms also recently commented on TBBK. BidaskClub downgraded shares of Bancorp from a hold rating to a sell rating in a report on Tuesday, July 3rd. TheStreet downgraded shares of Bancorp from a b rating to a c rating in a report on Thursday, August 30th. Finally, ValuEngine raised shares of Bancorp from a sell rating to a hold rating in a report on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $11.00.

Shares of TBBK stock traded up $0.03 during trading hours on Wednesday, hitting $10.53. The company’s stock had a trading volume of 5,631 shares, compared to its average volume of 174,810. The company has a market capitalization of $564.46 million, a P/E ratio of 20.57 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 12-month low of $8.39 and a 12-month high of $12.00.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 25th. The bank reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.31). The business had revenue of $121.60 million during the quarter, compared to analysts’ expectations of $120.75 million. Bancorp had a net margin of 6.61% and a return on equity of 11.88%. As a group, sell-side analysts forecast that Bancorp will post 0.74 earnings per share for the current year.

In other Bancorp news, Director Daniel G. Cohen sold 25,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $9.63, for a total transaction of $240,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel G. Cohen sold 140,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was 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. Corporate insiders own 11.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. United Services Automobile Association raised its position in Bancorp by 59.6% during the second quarter. United Services Automobile Association now owns 17,788 shares of the bank’s stock worth $186,000 after acquiring an additional 6,643 shares during the period. Northern Trust Corp raised its position in shares of Bancorp by 1.2% in the first quarter. Northern Trust Corp now owns 573,741 shares of the bank’s stock valued at $6,196,000 after buying an additional 6,687 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Bancorp in the first quarter valued at about $120,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Bancorp in the second quarter valued at about $124,000. Finally, Bank of Montreal Can raised its position in shares of Bancorp by 427.8% in the second quarter. Bank of Montreal Can now owns 14,784 shares of the bank’s stock valued at $154,000 after buying an additional 11,983 shares during the last quarter. 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.

Featured Article: Preferred Stock

Get a free copy of the Zacks research report on Bancorp (TBBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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