Bancorp (NASDAQ:TBBK) Stock Rating Lowered by StockNews.com

Bancorp (NASDAQ:TBBK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

Bancorp Stock Performance

Shares of TBBK stock opened at $53.58 on Friday. Bancorp has a 12 month low of $29.92 and a 12 month high of $61.17. The firm has a market capitalization of $2.57 billion, a PE ratio of 13.53 and a beta of 1.48. The firm has a fifty day simple moving average of $54.85 and a two-hundred day simple moving average of $49.81. 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 posted its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. 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 prior year, the company earned $0.92 EPS. Analysts forecast that Bancorp will post 4.3 EPS for the current fiscal year.

Insider Activity at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now directly owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after buying an additional 234 shares during the last quarter. Blue Trust Inc. increased its stake in Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. GAMMA Investing LLC raised its position in 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 in the last quarter. Los Angeles Capital Management LLC lifted its stake in Bancorp by 1.6% during the second quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock worth $1,157,000 after purchasing an additional 492 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Bancorp by 2.3% in the 3rd quarter. Natixis Advisors LLC now owns 30,551 shares of the bank’s stock worth $1,634,000 after purchasing an additional 673 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

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.