Bancorp (NASDAQ:TBBK) Downgraded by StockNews.com

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

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $55.00 price target (up previously from $46.00) on shares of Bancorp in a report on Monday. Piper Sandler boosted their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an overweight rating in a report on Monday.

Bancorp Trading Down 4.3 %

Shares of TBBK opened at $49.62 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $2.59 billion, a P/E ratio of 13.48 and a beta of 1.46. Bancorp has a twelve month low of $29.92 and a twelve month high of $53.48. The firm has a fifty day simple moving average of $38.95 and a two-hundred day simple moving average of $37.68.

Insider Buying and Selling

In other news, Director Hersh Kozlov acquired 1,000 shares of Bancorp stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $32.53 per share, for a total transaction of $32,530.00. Following the purchase, the director now owns 111,264 shares in the company, valued at $3,619,417.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Cheryl Creuzot sold 766 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the transaction, the director now owns 7,638 shares in the company, valued at $249,304.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hersh Kozlov bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $32.53 per share, with a total value of $32,530.00. Following the transaction, the director now owns 111,264 shares in the company, valued at approximately $3,619,417.92. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. SummerHaven Investment Management LLC increased its position in Bancorp by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 20,853 shares of the bank’s stock valued at $804,000 after acquiring an additional 269 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after acquiring an additional 291 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Bancorp by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after purchasing an additional 302 shares during the period. Yousif Capital Management LLC increased its holdings in Bancorp by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 28,396 shares of the bank’s stock worth $1,095,000 after acquiring an additional 319 shares in the last quarter. Finally, Legend Financial Advisors Inc. increased its stake in shares of Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after purchasing an additional 380 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other 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.