Keefe, Bruyette & Woods Reiterates Outperform Rating for Bancorp (NASDAQ:TBBK)

Bancorp (NASDAQ:TBBK)‘s stock had its “outperform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a research note issued to investors on Monday, Benzinga reports. They currently have a $55.00 target price on the bank’s stock, up from their prior target price of $46.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.57% from the company’s previous close.

TBBK has been the topic of several other reports. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Piper Sandler boosted their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday.

Bancorp Trading Down 1.7 %

Shares of NASDAQ:TBBK traded down $0.91 during midday trading on Monday, hitting $51.13. The company had a trading volume of 142,897 shares, compared to its average volume of 631,179. Bancorp has a 12 month low of $29.92 and a 12 month high of $53.18. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 13.89 and a beta of 1.47. The firm has a fifty day simple moving average of $37.90 and a 200 day simple moving average of $37.41.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Bancorp had a return on equity of 26.81% and a net margin of 40.00%. The business had revenue of $123.80 million for the quarter, compared to analyst estimates of $126.86 million. During the same period last year, the company earned $0.88 EPS. On average, analysts predict that Bancorp will post 4.35 EPS for the current year.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the completion of the transaction, the director now directly owns 7,638 shares of the company’s stock, valued at $249,304.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the sale, the director now directly owns 7,638 shares in the company, valued at $249,304.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hersh Kozlov purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $32.53 per share, for a total transaction of $32,530.00. Following the completion of the acquisition, the director now owns 111,264 shares of the company’s stock, valued at $3,619,417.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,706 shares of company stock valued at $54,962. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Bancorp by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after acquiring an additional 16,482 shares in the last quarter. Brown Advisory Inc. raised its holdings in Bancorp by 6.7% during the fourth quarter. Brown Advisory Inc. now owns 1,542,256 shares of the bank’s stock worth $59,469,000 after acquiring an additional 96,551 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Bancorp by 21.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock worth $39,984,000 after acquiring an additional 184,647 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Bancorp by 4.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 482,025 shares of the bank’s stock worth $18,587,000 after acquiring an additional 19,932 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Bancorp by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,171 shares of the bank’s stock worth $16,896,000 after acquiring an additional 5,145 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

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.