BidaskClub upgraded shares of Bancorp (NASDAQ:TBBK) from a buy rating to a strong-buy rating in a report published on Friday, March 9th.
TBBK has been the subject of several other research reports. Sandler O’Neill reiterated a hold rating and set a $11.00 price target on shares of Bancorp in a report on Friday, January 12th. Raymond James Financial upgraded Bancorp from an outperform rating to a strong-buy rating and upped their price objective for the company from $11.00 to $13.00 in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a hold rating on shares of Bancorp in a research report on Tuesday, February 13th. Finally, Zacks Investment Research raised Bancorp from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Friday, December 22nd. Four analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $10.40.
Bancorp (NASDAQ:TBBK) opened at $10.95 on Friday. Bancorp has a 12-month low of $4.41 and a 12-month high of $11.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.50. The stock has a market capitalization of $608.87, a PE ratio of 24.77 and a beta of 1.17.
Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $46.84 million for the quarter, compared to analyst estimates of $46.29 million. Bancorp had a net margin of 2.74% and a return on equity of 7.42%. equities research analysts forecast that Bancorp will post 0.79 EPS for the current year.
In related news, Director Hersh Kozlov sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $10.58, for a total transaction of $52,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Bancorp by 1.1% in the 4th quarter. BlackRock Inc. now owns 3,249,097 shares of the bank’s stock worth $32,101,000 after buying an additional 36,347 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Bancorp by 9.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock valued at $24,283,000 after purchasing an additional 248,998 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of Bancorp by 31.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock valued at $27,843,000 after purchasing an additional 681,608 shares during the period. State Street Corp lifted its stake in shares of Bancorp by 8.7% in the 2nd quarter. State Street Corp now owns 926,777 shares of the bank’s stock valued at $7,026,000 after purchasing an additional 74,299 shares during the period. Finally, Rutabaga Capital Management LLC MA purchased a new position in Bancorp during the fourth quarter valued at $7,221,000. Institutional investors and hedge funds own 79.57% of the company’s stock.
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Bancorp Company Profile
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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