Bancorp (NASDAQ:TBBK) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Bancorp (NASDAQ:TBBK) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

Several other equities analysts have also recently commented on TBBK. ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. BidaskClub cut shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Finally, TheStreet cut shares of Viavi Solutions from a b- rating to a c+ rating in a research note on Monday, June 3rd.

NASDAQ TBBK opened at $9.22 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $9.05. The company has a market cap of $511.60 million, a P/E ratio of 13.36 and a beta of 1.31. Bancorp has a 1 year low of $7.64 and a 1 year high of $11.02.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The business had revenue of $64.38 million during the quarter, compared to the consensus estimate of $60.19 million. Bancorp had a net margin of 29.70% and a return on equity of 10.97%. As a group, sell-side analysts anticipate that Bancorp will post 0.95 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Anderson Hoagland & Co. raised its holdings in shares of Bancorp by 20.8% in the second quarter. Anderson Hoagland & Co. now owns 121,843 shares of the bank’s stock valued at $1,084,000 after purchasing an additional 20,938 shares during the last quarter. Kennedy Capital Management Inc. grew its stake in shares of Bancorp by 66.7% in the first quarter. Kennedy Capital Management Inc. now owns 532,693 shares of the bank’s stock valued at $4,304,000 after buying an additional 213,147 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Bancorp in the first quarter valued at $85,000. Rutabaga Capital Management LLC MA grew its stake in shares of Bancorp by 6.7% in the first quarter. Rutabaga Capital Management LLC MA now owns 1,470,729 shares of the bank’s stock valued at $11,883,000 after buying an additional 92,236 shares in the last quarter. Finally, Globeflex Capital L P grew its stake in shares of Bancorp by 10.1% in the first quarter. Globeflex Capital L P now owns 18,695 shares of the bank’s stock valued at $151,000 after buying an additional 1,709 shares in the last quarter. 79.49% of the stock is currently owned by hedge funds and other institutional investors.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

Featured Story: How is the S&P 500 index different from the DJIA?

Get a free copy of the Zacks research report on Bancorp (TBBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.