Bancorp (NASDAQ:TBBK) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Bancorp (NASDAQ:TBBK) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks reports.

TBBK has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Piper Sandler restated an “overweight” rating and issued a $75.00 price target (down from $86.00) on shares of Bancorp in a report on Thursday, September 17th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $79.00 price target (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. Stephens reaffirmed an “equal weight” rating and issued a $59.00 price target on shares of Bancorp in a research note on Wednesday, October 21st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a report on Tuesday. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.88.

Bancorp Trading Up 1.5%

Shares of TBBK stock opened at $47.34 on Tuesday. The company has a market cap of $1.93 billion, a P/E ratio of 8.35 and a beta of 1.20. The stock has a 50 day simple moving average of $52.41 and a two-hundred day simple moving average of $58.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.88. Bancorp has a fifty-two week low of $45.08 and a fifty-two week high of $73.02.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.47. The firm had revenue of $135.89 million for the quarter, compared to analyst estimates of $154.86 million. Bancorp had a return on equity of 34.29% and a net margin of 30.13%. Research analysts forecast that Bancorp will post 5.99 earnings per share for the current year.

Insider Activity at Bancorp

In other news, Director Matthew Cohn acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average price of $45.54 per share, for a total transaction of $45,540.00. Following the completion of the acquisition, the director directly owned 63,111 shares in the company, valued at $2,874,074.94. The trade was a 1.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 6.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

A number of large investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Bancorp by 19.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock valued at $58,296,000 after purchasing an additional 172,925 shares during the last quarter. Bank of America Corp DE increased its holdings in Bancorp by 104.5% during the 1st quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock worth $22,922,000 after purchasing an additional 218,038 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Bancorp by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock worth $18,955,000 after purchasing an additional 27,058 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of Bancorp by 21.3% in the third quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock worth $16,740,000 after purchasing an additional 61,054 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bancorp in the first quarter worth approximately $15,063,000. 96.22% of the stock is currently owned by institutional investors.

About Bancorp

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.