Bancorp (NASDAQ:TBBK) Raised to “Hold” at StockNews.com

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

Other equities analysts also recently issued research reports about the company. Raymond James reiterated an “outperform” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods decreased their price target on shares of Bancorp from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, April 28th.

Bancorp Trading Down 0.5%

NASDAQ:TBBK opened at $54.34 on Tuesday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 12.64 and a beta of 1.31. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $49.82 and a 200 day moving average of $53.61. Bancorp has a 52 week low of $31.34 and a 52 week high of $65.84.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The business had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. On average, research analysts predict that Bancorp will post 5.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Bancorp in the first quarter worth about $587,000. Royal Bank of Canada lifted its position in shares of Bancorp by 98.2% during the 1st quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock valued at $4,052,000 after buying an additional 37,993 shares in the last quarter. Quarry LP bought a new position in shares of Bancorp during the 1st quarter valued at approximately $39,000. Capital Fund Management S.A. purchased a new stake in Bancorp in the 1st quarter worth approximately $999,000. Finally, EntryPoint Capital LLC bought a new stake in Bancorp during the 1st quarter worth approximately $208,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

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.