Bancorp Inc (NASDAQ:TBBK) Given Average Recommendation of “Buy” by Brokerages

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Shares of Bancorp Inc (NASDAQ:TBBK) have been assigned an average rating of “Buy” from the six analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.00.

TBBK has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, May 28th. Piper Sandler dropped their price objective on shares of Bancorp from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Zacks Investment Research upgraded shares of Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, June 16th. ValuEngine cut shares of Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, March 9th. Finally, TheStreet cut shares of Bancorp from a “b-” rating to a “c” rating in a report on Friday, April 17th.

In other Bancorp news, Director Matthew Cohn bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $7.16 per share, with a total value of $143,200.00. Following the acquisition, the director now directly owns 101,163 shares of the company’s stock, valued at approximately $724,327.08. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel G. Cohen sold 60,000 shares of Bancorp stock in a transaction on Friday, June 12th. The shares were sold at an average price of $8.96, for a total transaction of $537,600.00. Following the completion of the transaction, the director now directly owns 138,429 shares in the company, valued at $1,240,323.84. The disclosure for this sale can be found here. 10.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. acquired a new position in shares of Bancorp during the 1st quarter worth $38,000. Great West Life Assurance Co. Can purchased a new position in Bancorp in the 4th quarter valued at about $43,000. First Mercantile Trust Co. purchased a new position in shares of Bancorp during the 1st quarter worth about $52,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Bancorp during the 4th quarter worth about $68,000. Finally, Rothschild Investment Corp IL acquired a new stake in Bancorp during the 1st quarter worth approximately $69,000. 79.85% of the stock is currently owned by institutional investors.

Bancorp stock traded down $0.04 during midday trading on Friday, hitting $9.13. 15,831 shares of the stock were exchanged, compared to its average volume of 467,308. Bancorp has a fifty-two week low of $3.36 and a fifty-two week high of $13.73. The stock has a market capitalization of $528.40 million, a price-to-earnings ratio of 11.27 and a beta of 1.62. The stock’s 50-day simple moving average is $8.43 and its 200 day simple moving average is $9.54. The company has a current ratio of 0.79, a quick ratio of 0.44 and a debt-to-equity ratio of 0.11.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, April 30th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Bancorp had a net margin of 16.64% and a return on equity of 11.76%. The firm had revenue of $59.51 million during the quarter, compared to analysts’ expectations of $62.16 million. Equities analysts anticipate that Bancorp will post 1.17 EPS for the current fiscal year.

Bancorp Company Profile

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

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