Brokerages Set The Bancorp, Inc. (TBBK) Price Target at $8.25
The Bancorp, Inc. (NASDAQ:TBBK) has been assigned an average rating of “Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.25.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of The Bancorp from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, November 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.00 target price on shares of The Bancorp in a report on Friday, November 10th. Finally, BidaskClub raised shares of The Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd.
Shares of The Bancorp (TBBK) traded up $0.24 during trading on Thursday, hitting $10.13. 2,050,000 shares of the stock were exchanged, compared to its average volume of 364,174. The Bancorp has a fifty-two week low of $4.41 and a fifty-two week high of $10.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.50 and a current ratio of 0.60.
A number of large investors have recently bought and sold shares of TBBK. Vanguard Group Inc. grew its position in The Bancorp by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock valued at $10,646,000 after buying an additional 90,800 shares during the last quarter. Geode Capital Management LLC grew its position in The Bancorp by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 434,857 shares of the bank’s stock valued at $2,217,000 after buying an additional 15,139 shares during the last quarter. Dimensional Fund Advisors LP grew its position in The Bancorp by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,453,786 shares of the bank’s stock valued at $12,514,000 after buying an additional 148,942 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of The Bancorp by 66.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 240,359 shares of the bank’s stock worth $1,226,000 after purchasing an additional 95,644 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of The Bancorp by 9.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock worth $189,000 after purchasing an additional 3,261 shares in the last quarter. Hedge funds and other institutional investors own 72.84% of the company’s stock.
About The Bancorp
The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).
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