The Bancorp, Inc. (NASDAQ:TBBK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of The Bancorp, Inc. (NASDAQ:TBBK) have been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $59.50.

TBBK has been the subject of several recent analyst reports. Bank of America set a $60.00 target price on shares of Bancorp in a report on Wednesday, January 21st. Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Piper Sandler started coverage on shares of Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research report on Friday, March 27th. Finally, Wolfe Research set a $57.00 price target on shares of Bancorp in a research report on Monday, February 9th.

Insiders Place Their Bets

In other news, EVP Ryan Harris sold 4,500 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $53.18, for a total value of $239,310.00. Following the completion of the sale, the executive vice president directly owned 150,516 shares of the company’s stock, valued at $8,004,440.88. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Maria Wainwright sold 8,400 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the sale, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at $1,502,506.08. This trade represents a 25.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders bought 3,880 shares of company stock valued at $235,683 and sold 17,370 shares valued at $1,014,778. 6.00% of the stock is owned by company insiders.

Institutional Trading of Bancorp

A number of hedge funds have recently made changes to their positions in TBBK. Ameriprise Financial Inc. lifted its position in shares of Bancorp by 273.2% in the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after purchasing an additional 455,265 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Bancorp by 148.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock worth $27,227,000 after purchasing an additional 241,058 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in Bancorp by 25.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock worth $72,360,000 after buying an additional 219,351 shares during the last quarter. Penn Capital Management Company LLC acquired a new position in Bancorp in the third quarter worth approximately $13,422,000. Finally, Epoch Investment Partners Inc. increased its holdings in Bancorp by 306.6% in the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock worth $15,672,000 after buying an additional 157,796 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Stock Performance

Shares of TBBK opened at $57.00 on Friday. Bancorp has a one year low of $48.86 and a one year high of $81.65. The company has a 50-day moving average of $56.20 and a two-hundred day moving average of $62.59. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 11.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The company had revenue of $132.50 million during the quarter, compared to analysts’ expectations of $189.17 million. On average, equities research analysts expect that Bancorp will post 5.95 earnings per share for the current year.

Bancorp Company Profile

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.