The Bancorp (TBBK) Receives “Hold” Rating from Sandler O’Neill
Sandler O’Neill reaffirmed their hold rating on shares of The Bancorp (NASDAQ:TBBK) in a research report report published on Friday morning. They currently have a $11.00 target price on the bank’s stock.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded The Bancorp from a hold rating to a buy rating and set a $9.50 target price for the company in a report on Wednesday, November 1st. Piper Jaffray Companies reaffirmed a hold rating and issued a $9.00 price target on shares of The Bancorp in a research report on Friday, November 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $9.75.
The Bancorp (NASDAQ TBBK) traded up $0.06 on Friday, reaching $10.86. The company had a trading volume of 232,200 shares, compared to its average volume of 278,267. The Bancorp has a 12-month low of $4.41 and a 12-month high of $10.96. The company has a current ratio of 0.60, a quick ratio of 0.50 and a debt-to-equity ratio of 0.16. The firm has a market cap of $606.64, a price-to-earnings ratio of 120.67 and a beta of 1.23.
In other The Bancorp news, Director John C. Chrystal sold 62,285 shares of The Bancorp stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $9.65, for a total value of $601,050.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel G. Cohen sold 250,000 shares of The Bancorp stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $9.53, for a total value of $2,382,500.00. The disclosure for this sale can be found here. Insiders own 12.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. increased its position in The Bancorp by 0.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock worth $167,000 after buying an additional 117 shares during the period. Nationwide Fund Advisors increased its position in shares of The Bancorp by 2.1% during the second quarter. Nationwide Fund Advisors now owns 40,031 shares of the bank’s stock valued at $303,000 after purchasing an additional 805 shares during the period. Rhumbline Advisers increased its position in shares of The Bancorp by 5.5% during the second quarter. Rhumbline Advisers now owns 57,725 shares of the bank’s stock valued at $438,000 after purchasing an additional 3,010 shares during the period. Voya Investment Management LLC increased its position in shares of The Bancorp by 20.4% during the second 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 during the period. Finally, California Public Employees Retirement System increased its position in shares of The Bancorp by 2.4% during the second quarter. California Public Employees Retirement System now owns 194,300 shares of the bank’s stock valued at $1,473,000 after purchasing an additional 4,600 shares during the period. 72.84% of the stock is currently owned by institutional investors.
The 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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