Bancorp (NASDAQ:TBBK) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Bancorp (NASDAQ:TBBK – Get Rating) in a research report released on Thursday. The brokerage issued a hold rating on the bank’s stock.

Separately, Raymond James initiated coverage on shares of Bancorp in a report on Monday, January 30th. They set an outperform rating and a $38.00 price objective for the company.

Bancorp Price Performance

NASDAQ:TBBK opened at $29.92 on Thursday. The company has a 50-day moving average of $32.71 and a 200-day moving average of $28.78. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.12 and a beta of 1.49. Bancorp has a 52 week low of $16.59 and a 52 week high of $37.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.99.

Insider Transactions at Bancorp

In related news, insider Erika R. Caesar sold 4,388 shares of Bancorp stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $34.78, for a total transaction of $152,614.64. Following the completion of the transaction, the insider now directly owns 25,958 shares of the company’s stock, valued at approximately $902,819.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Daniela Mielke purchased 2,300 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $27.14 per share, with a total value of $62,422.00. Following the acquisition, the director now directly owns 20,830 shares of the company’s stock, valued at approximately $565,326.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erika R. Caesar sold 4,388 shares of Bancorp stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $34.78, for a total transaction of $152,614.64. Following the transaction, the insider now directly owns 25,958 shares of the company’s stock, valued at $902,819.24. The disclosure for this sale can be found here. In the last three months, insiders acquired 4,050 shares of company stock valued at $121,530. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its position in Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after acquiring an additional 935 shares in the last quarter. Federated Hermes Inc. increased its position in Bancorp by 28.1% in the 3rd quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Bancorp in the 4th quarter valued at about $56,000. Emerald Advisers LLC acquired a new stake in Bancorp in the 4th quarter valued at about $57,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Bancorp in the 2nd quarter valued at about $63,000. 90.02% of the stock is owned by institutional investors.

Bancorp Company Profile

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The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.