The Bancorp (NASDAQ:TBBK) Given “Hold” Rating at Piper Jaffray Companies

The Bancorp (NASDAQ:TBBK)‘s stock had its “hold” rating reissued by stock analysts at Piper Jaffray Companies in a report issued on Friday, November 10th. They presently have a $9.00 target price on the bank’s stock. Piper Jaffray Companies’ price objective points to a potential downside of 8.54% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, November 1st. BidaskClub raised shares of The Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Raymond James Financial raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, July 31st. Finally, UBS raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The Bancorp presently has a consensus rating of “Buy” and an average target price of $8.56.

Shares of The Bancorp (NASDAQ TBBK) traded up $0.16 during trading hours on Friday, reaching $9.84. 382,100 shares of the company were exchanged, compared to its average volume of 320,976. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.50. The Bancorp has a 1 year low of $4.41 and a 1 year high of $10.19.

In other news, Director Daniel G. Cohen sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $9.53, for a total transaction of $2,382,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey A. Nager bought 5,000 shares of the stock in a transaction 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 purchase, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $78,200. The disclosure for this purchase can be found here. Company insiders own 12.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TBBK. Bank of New York Mellon Corp grew its stake in The Bancorp by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 337,126 shares of the bank’s stock worth $1,719,000 after acquiring an additional 26,826 shares during the period. Swiss National Bank boosted its holdings in shares of The Bancorp by 43.5% in the 1st quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock valued at $465,000 after purchasing an additional 27,600 shares during the last quarter. American International Group Inc. boosted its holdings in shares of The Bancorp by 51.8% in the 1st quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock valued at $156,000 after purchasing an additional 10,447 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of The Bancorp by 22.9% in the 1st quarter. California Public Employees Retirement System now owns 189,700 shares of the bank’s stock valued at $967,000 after purchasing an additional 35,300 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of The Bancorp by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock valued at $10,646,000 after purchasing an additional 90,800 shares during the last quarter. 72.69% of the stock is owned by hedge funds and other institutional investors.

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About The Bancorp

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).

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