Bancorp (NASDAQ:TBBK) Given New $64.00 Price Target at Piper Sandler

Bancorp (NASDAQ:TBBK) had its price objective upped by stock analysts at Piper Sandler from $61.00 to $64.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 20.05% from the stock’s current price.

Separately, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday.

Bancorp Price Performance

NASDAQ:TBBK opened at $53.31 on Monday. Bancorp has a 12-month low of $29.92 and a 12-month high of $61.17. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 13.46 and a beta of 1.48. The company’s 50-day moving average is $55.24 and its two-hundred day moving average is $49.30. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. Research analysts expect that Bancorp will post 4.3 EPS for the current year.

Insider Buying and Selling at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total value of $508,609.60. Following the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This represents a 11.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last three months. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently bought and sold shares of TBBK. Blue Trust Inc. grew its stake in Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares in the last quarter. Point72 DIFC Ltd bought a new position in Bancorp in the third quarter worth about $54,000. GAMMA Investing LLC grew its holdings in shares of Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after purchasing an additional 327 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Bancorp in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Company Profile

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.