Bancorp (NASDAQ:TBBK) Now Covered by Analysts at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Bancorp (NASDAQ:TBBK) in a research report issued on Thursday. The brokerage set an “overweight” rating and a $66.00 price target on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 25.68% from the company’s current price.

TBBK has been the topic of a number of other research reports. Bank of America set a $60.00 price target on Bancorp in a research report on Wednesday, January 21st. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Wolfe Research set a $57.00 price target on Bancorp in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Bancorp Stock Performance

Bancorp stock traded down $0.22 during trading hours on Thursday, hitting $52.52. The company had a trading volume of 87,985 shares, compared to its average volume of 656,493. The firm has a market cap of $2.22 billion, a PE ratio of 10.73 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. Bancorp has a one year low of $40.51 and a one year high of $81.65. The firm has a 50-day moving average of $62.15 and a 200 day moving average of $68.02.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a net margin of 25.94% and a return on equity of 28.91%. The firm had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. On average, sell-side analysts expect that Bancorp will post 5.31 earnings per share for the current year.

Insider Transactions at Bancorp

In other Bancorp news, CFO Dominic C. Canuso purchased 2,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was bought at an average price of $60.54 per share, with a total value of $121,080.00. Following the acquisition, the chief financial officer owned 16,169 shares of the company’s stock, valued at approximately $978,871.26. This represents a 14.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark E. Tryniski acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the transaction, the director owned 18,966 shares in the company, valued at $1,142,322.18. The trade was a 35.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 9,080 shares of company stock valued at $548,933. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in Bancorp by 273.2% in the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after buying an additional 455,265 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Bancorp by 148.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock worth $27,227,000 after buying an additional 241,058 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in shares of Bancorp by 25.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock valued at $72,360,000 after acquiring an additional 219,351 shares during the last quarter. Penn Capital Management Company LLC bought a new position in shares of Bancorp in the 3rd quarter valued at $13,422,000. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Bancorp by 306.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock valued at $15,672,000 after acquiring an additional 157,796 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.