Zacks Investment Research downgraded shares of The Bancorp, Inc. (NASDAQ:TBBK) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of The Bancorp from a sell rating to a hold rating in a research note on Wednesday, June 28th. UBS AG upgraded shares of The Bancorp from a market perform rating to an outperform rating in a research note on Monday, July 31st. BidaskClub downgraded shares of The Bancorp from a buy rating to a hold rating in a research note on Wednesday, July 19th. Raymond James Financial, Inc. upgraded shares of The Bancorp from a market perform rating to an outperform rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies restated a hold rating and issued a $6.50 price target on shares of The Bancorp in a research note on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $7.75.

The Bancorp (NASDAQ:TBBK) traded down 0.48% during mid-day trading on Tuesday, reaching $8.33. The company’s stock had a trading volume of 141,060 shares. The firm’s market capitalization is $464.46 million. The company’s 50-day moving average price is $7.97 and its 200 day moving average price is $6.88. The Bancorp has a 52 week low of $4.41 and a 52 week high of $8.57.

The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The business had revenue of $45.39 million during the quarter, compared to the consensus estimate of $42.40 million. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. On average, equities analysts forecast that The Bancorp will post $0.48 earnings per share for the current fiscal year.

WARNING: “Zacks Investment Research Lowers The Bancorp, Inc. (TBBK) to Hold” was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://www.dailypolitical.com/2017/10/07/zacks-investment-research-lowers-the-bancorp-inc-tbbk-to-hold.html.

In related news, EVP Jeffrey A. Nager purchased 5,000 shares of The Bancorp stock in a transaction that occurred on Thursday, August 31st. The stock was purchased 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 directly owns 10,000 shares in the company, valued at $78,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Castle Creek Capital Partners purchased 225,000 shares of The Bancorp stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $7.41 per share, with a total value of $1,667,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 323,700 shares of company stock valued at $2,409,100. Corporate insiders own 12.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TBBK. Teachers Advisors LLC lifted its position in The Bancorp by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 98,724 shares of the bank’s stock valued at $776,000 after acquiring an additional 26,624 shares during the last quarter. Russell Investments Group Ltd. lifted its position in The Bancorp by 0.8% in the first quarter. Russell Investments Group Ltd. now owns 453,651 shares of the bank’s stock valued at $2,314,000 after acquiring an additional 3,644 shares during the last quarter. First Trust Advisors LP lifted its position in The Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 102,115 shares of the bank’s stock valued at $521,000 after acquiring an additional 8,778 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 during the last quarter. Finally, Swiss National Bank lifted its position in The Bancorp by 43.5% in the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock valued at $465,000 after acquiring an additional 27,600 shares during the last quarter. 74.94% of the stock is owned by hedge funds and other 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).

Get a free copy of the Zacks research report on The Bancorp (TBBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for The Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.