Bancorp’s (TBBK) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Bancorp (NASDAQ:TBBK) in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has a $62.00 price objective on the bank’s stock, down from their previous price objective of $75.00.

Several other equities research analysts also recently weighed in on the company. Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Bancorp in a report on Tuesday, October 20th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $79.00 target price (up from $77.00) on shares of Bancorp in a research note on Monday, August 3rd. DA Davidson set a $64.00 target price on Bancorp in a report on Tuesday, October 20th. Finally, Stephens reiterated an “equal weight” rating and set a $59.00 price target on shares of Bancorp in a research report on Wednesday, October 21st. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Bancorp Trading Down 0.1%

Bancorp stock opened at $48.61 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. Bancorp has a 52 week low of $45.08 and a 52 week high of $73.02. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.20. The stock has a 50-day moving average price of $50.72 and a 200 day moving average price of $57.74.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 29th. The bank reported $1.47 EPS for the quarter, meeting analysts’ consensus estimates of $1.47. Bancorp had a return on equity of 34.29% and a net margin of 28.50%. The firm had revenue of $135.89 million for the quarter, compared to analyst estimates of $154.86 million. Sell-side analysts anticipate that Bancorp will post 5.97 EPS for the current year.

Insider Buying and Selling

In related news, Director Matthew Cohn acquired 1,000 shares of the stock in a transaction on Tuesday, November 3rd. The shares were bought at an average price of $45.54 per share, with a total value of $45,540.00. Following the completion of the purchase, the director owned 63,111 shares of the company’s stock, valued at approximately $2,874,074.94. This represents a 1.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ryan Harris sold 4,500 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $48.27, for a total value of $217,215.00. Following the completion of the sale, the executive vice president owned 146,016 shares of the company’s stock, valued at approximately $7,048,192.32. The trade was a 2.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of Bancorp in the 3rd quarter valued at $94,000. Banc Funds Co. LLC lifted its position in shares of Bancorp by 72.1% during the third quarter. Banc Funds Co. LLC now owns 40,592 shares of the bank’s stock worth $1,955,000 after purchasing an additional 17,000 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Bancorp by 676.7% during the third quarter. Global Retirement Partners LLC now owns 1,631 shares of the bank’s stock worth $79,000 after purchasing an additional 1,421 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Bancorp during the third quarter worth about $1,216,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Bancorp in the third quarter valued at approximately $26,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Company Profile

The Bancorp, Inc. is a financial holding company based in Wilmington, Delaware. Through its subsidiary, The Bancorp Bank, National Association, it provides banking and financial services primarily to businesses and other organizations rather than operating a traditional branch-focused consumer bank. The company’s services include payment and card programs, such as prepaid and debit card solutions, along with payment processing and banking services for fintech companies and other partners. Its lending activities include specialty financing for businesses and individuals.