Shares of The Bancorp, Inc. (NASDAQ:TBBK) have been given an average recommendation of “Buy” by the nine analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.75.
Several equities research analysts have recently issued reports on TBBK shares. BidaskClub raised The Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised The Bancorp from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Wednesday, August 2nd. TheStreet raised The Bancorp from a “d+” rating to a “c-” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $6.50 price objective on shares of The Bancorp in a research note on Friday, July 14th. Finally, ValuEngine raised The Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th.
In other The Bancorp news, Director Castle Creek Capital Partners purchased 225,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average cost of $7.41 per share, with a total value of $1,667,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Walter T. Beach sold 106,784 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $7.74, for a total value of $826,508.16. Following the sale, the director now directly owns 122,640 shares of the company’s stock, valued at $949,233.60. The disclosure for this sale can be found here. Insiders have purchased a total of 428,198 shares of company stock valued at $3,097,087 over the last three months. 12.40% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. American International Group Inc. lifted its stake in shares of The Bancorp by 51.8% during the 1st quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock worth $156,000 after acquiring an additional 10,447 shares during the last quarter. Goldman Sachs Group Inc. raised its position in The Bancorp by 55.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock valued at $156,000 after purchasing an additional 10,895 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in The Bancorp by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock valued at $167,000 after purchasing an additional 117 shares in the last quarter. Voya Investment Management LLC raised its position in The Bancorp by 20.4% during the 2nd quarter. Voya Investment Management LLC now owns 24,779 shares of the bank’s stock valued at $188,000 after purchasing an additional 4,203 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in The Bancorp by 9.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock valued at $189,000 after purchasing an additional 3,261 shares in the last quarter. 74.94% of the stock is owned by hedge funds and other institutional investors.
The Bancorp (NASDAQ:TBBK) traded up 0.52% during mid-day trading on Tuesday, reaching $7.79. The company had a trading volume of 172,029 shares. The firm has a 50-day moving average of $7.67 and a 200 day moving average of $6.43. The Bancorp has a 1-year low of $4.41 and a 1-year high of $8.20. The company’s market capitalization is $434.35 million.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. The business had revenue of $45.39 million during the quarter, compared to analyst estimates of $42.40 million. The Bancorp had a negative return on equity of 4.27% and a negative net margin of 16.27%. On average, analysts predict that The Bancorp will post $0.48 earnings per share for the current fiscal year.
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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