StockNews.com Lowers Bancorp (NASDAQ:TBBK) to Sell

Bancorp (NASDAQ:TBBK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently commented on the company. Piper Sandler raised their target price on Bancorp from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, December 21st. Raymond James raised their target price on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Keefe, Bruyette & Woods dropped their target price on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th.

Bancorp Stock Performance

TBBK traded up $0.75 during midday trading on Friday, hitting $33.94. 559,966 shares of the company were exchanged, compared to its average volume of 631,652. The company’s 50 day simple moving average is $37.03 and its 200 day simple moving average is $37.98. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.70 and a beta of 1.45. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Bancorp has a 1-year low of $25.97 and a 1-year high of $47.11.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 25th. The bank reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The firm had revenue of $119.15 million for the quarter, compared to analysts’ expectations of $118.52 million. As a group, sell-side analysts predict that Bancorp will post 4.42 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Daniela Mielke acquired 3,315 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average cost of $45.13 per share, for a total transaction of $149,605.95. Following the acquisition, the director now owns 26,715 shares in the company, valued at approximately $1,205,647.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniela Mielke acquired 3,315 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average cost of $45.13 per share, for a total transaction of $149,605.95. Following the acquisition, the director now owns 26,715 shares in the company, valued at approximately $1,205,647.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephanie B. Mudick bought 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the purchase, the director now directly owns 31,584 shares in the company, valued at $1,172,082.24. The disclosure for this purchase can be found here. In the last three months, insiders have bought 7,800 shares of company stock worth $308,838. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Arcus Capital Partners LLC purchased a new position in Bancorp in the 1st quarter worth approximately $221,000. Allspring Global Investments Holdings LLC lifted its stake in Bancorp by 9.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,637 shares of the bank’s stock worth $356,000 after purchasing an additional 941 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Bancorp in the 1st quarter worth approximately $679,000. First Hawaiian Bank lifted its stake in Bancorp by 24.7% in the 1st quarter. First Hawaiian Bank now owns 18,480 shares of the bank’s stock worth $618,000 after purchasing an additional 3,661 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in Bancorp by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 227,545 shares of the bank’s stock worth $8,774,000 after purchasing an additional 817 shares in the last quarter. 96.22% of the stock is 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.