Bancorp (NASDAQ:TBBK) Rating Increased to Hold at StockNews.com

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

Bancorp Trading Up 0.5 %

Shares of TBBK stock opened at $56.08 on Wednesday. The business’s 50 day moving average is $55.21 and its two-hundred day moving average is $48.32. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. Bancorp has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a market cap of $2.69 billion, a PE ratio of 14.16 and a beta of 1.48.

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

Insider Activity at Bancorp

In related news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction 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 owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Cohn bought 545 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the purchase, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 in the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nantahala Capital Management LLC bought a new stake in shares of Bancorp in the second quarter valued at about $12,757,000. Franklin Resources Inc. raised its holdings in Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after acquiring an additional 144,867 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Bancorp in the 3rd quarter worth approximately $6,100,000. Marshall Wace LLP grew its holdings in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after purchasing an additional 96,072 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in shares of Bancorp by 42.3% during the third quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock valued at $12,739,000 after purchasing an additional 70,768 shares during the period. 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.