The Bancorp, Inc. (TBBK) Receives Consensus Recommendation of “Buy” from Analysts
The Bancorp, Inc. (NASDAQ:TBBK) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.56.
A number of brokerages have weighed in on TBBK. Piper Jaffray Companies reaffirmed a “hold” rating and set a $9.00 price target on shares of The Bancorp in a research report on Friday, November 10th. Zacks Investment Research raised shares of The Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, November 1st. BidaskClub raised shares of The Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Raymond James Financial, Inc. raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, UBS AG raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st.
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In other news, EVP Jeffrey A. Nager bought 5,000 shares of The Bancorp stock in a transaction dated Thursday, August 31st. The shares were acquired at an average cost of $7.82 per share, with a total value of $39,100.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $78,200. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC lifted its position in shares of The Bancorp by 6.5% during the second quarter. Teachers Advisors LLC now owns 111,635 shares of the bank’s stock worth $846,000 after purchasing an additional 6,768 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of The Bancorp by 4.5% during the first quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock worth $10,646,000 after purchasing an additional 90,800 shares in the last quarter. Bank of America Corp DE lifted its position in shares of The Bancorp by 7.9% during the first quarter. Bank of America Corp DE now owns 555,847 shares of the bank’s stock worth $2,835,000 after purchasing an additional 40,680 shares in the last quarter. Signia Capital Management LLC raised its holdings in The Bancorp by 64.4% in the second quarter. Signia Capital Management LLC now owns 1,006,430 shares of the bank’s stock valued at $7,628,000 after acquiring an additional 394,183 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in The Bancorp by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 337,126 shares of the bank’s stock valued at $1,719,000 after acquiring an additional 26,826 shares in the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.
The Bancorp (NASDAQ TBBK) opened at $9.71 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The Bancorp has a 12-month low of $4.41 and a 12-month high of $9.80.
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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