The Bancorp, Inc. (NASDAQ:TBBK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The Bancorp, Inc. (NASDAQ:TBBK) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $59.50.

Several brokerages have issued reports on TBBK. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Piper Sandler began coverage on shares of Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research report on Friday, March 27th. Wolfe Research set a $57.00 target price on shares of Bancorp in a research note on Monday, February 9th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $59.21 on Friday. The firm has a market capitalization of $2.48 billion, a PE ratio of 11.52 and a beta of 1.26. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. Bancorp has a 1-year low of $48.86 and a 1-year high of $81.65. The business’s 50 day moving average is $56.00 and its 200-day moving average is $63.00.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The business had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 31.71%. Sell-side analysts predict that Bancorp will post 5.95 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Erika R. Caesar sold 4,470 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the completion of the transaction, the executive vice president directly owned 32,880 shares of the company’s stock, valued at approximately $1,982,006.40. This represents a 11.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Cohn bought 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average price of $62.14 per share, with a total value of $42,255.20. Following the transaction, the director directly owned 3,655 shares in the company, valued at $227,121.70. This trade represents a 22.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 9,080 shares of company stock worth $548,933 and sold 17,370 shares worth $1,014,778. 6.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in shares of Bancorp by 3,498.2% in the 1st quarter. Fifth Third Bancorp now owns 9,751 shares of the bank’s stock worth $524,000 after purchasing an additional 9,480 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Bancorp during the 1st quarter valued at about $2,699,000. Janney Montgomery Scott LLC boosted its position in Bancorp by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock valued at $368,000 after buying an additional 267 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Bancorp by 11.8% in the first quarter. Pictet Asset Management Holding SA now owns 6,985 shares of the bank’s stock valued at $375,000 after buying an additional 739 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Bancorp during the first quarter worth about $1,010,000. 96.22% of the stock is owned by institutional investors.

About Bancorp

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.