Bancorp (NASDAQ:TBBK) Stock Gets Downgrade from Zacks Research

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

Several other brokerages have also commented on TBBK. Raymond James Financial restated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research note on Tuesday. Bank of America reaffirmed a “buy” rating on shares of Bancorp in a research note on Monday, July 20th. DA Davidson set a $64.00 price objective on shares of Bancorp in a research note on Tuesday, October 20th. Stephens reiterated an “equal weight” rating and set a $59.00 target price on shares of Bancorp in a report on Wednesday, October 21st. Finally, Piper Sandler reissued an “overweight” rating and set a $75.00 target price (down from $86.00) on shares of Bancorp in a research report on Thursday, September 17th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bancorp has an average rating of “Moderate Buy” and a consensus target price of $63.88.

Bancorp Stock Up 1.5%

Shares of NASDAQ:TBBK opened at $47.34 on Tuesday. Bancorp has a 52-week low of $45.08 and a 52-week high of $73.02. The stock has a market cap of $1.93 billion, a P/E ratio of 8.35 and a beta of 1.20. The business’s 50 day moving average is $52.41 and its 200 day moving average is $58.24. 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 (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 EPS for the quarter, hitting the consensus estimate of $1.47. Bancorp had a return on equity of 34.29% and a net margin of 30.13%. The company had revenue of $135.89 million for the quarter, compared to the consensus estimate of $154.86 million. Sell-side analysts predict that Bancorp will post 5.99 EPS for the current year.

Insiders Place Their Bets

In related news, Director Matthew Cohn bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were acquired at an average price of $45.54 per share, with a total value of $45,540.00. Following the transaction, the director owned 63,111 shares of the company’s stock, valued at $2,874,074.94. The trade was a 1.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC boosted its holdings in shares of Bancorp by 17.5% in the 3rd quarter. Lido Advisors LLC now owns 12,585 shares of the bank’s stock valued at $606,000 after buying an additional 1,870 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Bancorp by 4,089.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank’s stock worth $79,000 after buying an additional 1,595 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of Bancorp by 6.4% during the 3rd quarter. Hennessy Advisors Inc. now owns 50,000 shares of the bank’s stock worth $2,408,000 after acquiring an additional 3,000 shares in the last quarter. State of Wyoming raised its stake in shares of Bancorp by 54.0% during the 3rd quarter. State of Wyoming now owns 4,297 shares of the bank’s stock worth $207,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Bancorp during the 3rd quarter worth approximately $203,000. 96.22% of the stock is currently owned by hedge funds and other 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.