Bancorp (NASDAQ:TBBK) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Bancorp (NASDAQ:TBBK) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

TBBK has been the subject of a number of other reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. Finally, William Blair set a $60.00 target price on shares of Bancorp in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Bancorp Price Performance

TBBK traded down $1.70 during trading on Tuesday, hitting $58.54. 674,308 shares of the stock traded hands, compared to its average volume of 737,291. The business has a 50 day moving average price of $67.75 and a 200 day moving average price of $69.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. Bancorp has a twelve month low of $40.51 and a twelve month high of $81.65. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 11.90 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The business had revenue of $132.21 million for the quarter, compared to analyst estimates of $101.10 million. Equities research analysts forecast that Bancorp will post 5.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dominic C. Canuso purchased 1,800 shares of the business’s stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $61.24 per share, with a total value of $110,232.00. Following the completion of the transaction, the chief financial officer owned 3,500 shares of the company’s stock, valued at $214,340. The trade was a 105.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Bancorp

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in shares of Bancorp by 8.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock worth $157,000 after purchasing an additional 169 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Bancorp by 78.6% during the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after buying an additional 176 shares during the last quarter. Ethic Inc. lifted its position in Bancorp by 4.5% in the 2nd quarter. Ethic Inc. now owns 4,177 shares of the bank’s stock valued at $239,000 after acquiring an additional 178 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in Bancorp by 2.0% during the 3rd quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank’s stock worth $715,000 after purchasing an additional 191 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Bancorp by 3.7% in the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.