Bancorp (NASDAQ:TBBK) Cut to “Strong Sell” at Zacks Research

Bancorp (NASDAQ:TBBK) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on TBBK. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. William Blair set a $60.00 target price on shares of Bancorp in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $60.24 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a 50 day moving average price of $67.75 and a 200 day moving average price of $69.65. The stock has a market capitalization of $2.65 billion, a PE ratio of 12.24 and a beta of 1.31. Bancorp has a 52 week low of $40.51 and a 52 week high of $81.65.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The company had revenue of $132.21 million for the quarter, compared to analyst estimates of $101.10 million. Analysts predict that Bancorp will post 5.31 earnings per share for the current fiscal year.

Insider Activity at Bancorp

In related news, CFO Dominic C. Canuso bought 1,800 shares of Bancorp stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $61.24 per share, with a total value of $110,232.00. Following the acquisition, the chief financial officer owned 3,500 shares of the company’s stock, valued at approximately $214,340. This represents a 105.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Bancorp by 98.2% in the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock valued at $4,052,000 after purchasing an additional 37,993 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Bancorp by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after purchasing an additional 2,296 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bancorp by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock valued at $1,436,000 after purchasing an additional 518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bancorp by 6.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock valued at $7,795,000 after purchasing an additional 8,454 shares during the period. Finally, Jane Street Group LLC grew its holdings in Bancorp by 145.8% in the 1st quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock valued at $6,773,000 after buying an additional 76,027 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.