Brokerages Set The Bancorp, Inc. (NASDAQ:TBBK) Target Price at $59.50

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

A number of analysts recently commented on TBBK shares. Zacks Research raised Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Weiss Ratings lowered Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Wolfe Research set a $57.00 target price on Bancorp in a research report on Monday, February 9th. Finally, Piper Sandler began coverage on Bancorp in a report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price on the stock.

Bancorp Trading Down 4.6%

NASDAQ:TBBK opened at $52.04 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 10.12 and a beta of 1.21. The firm has a fifty day simple moving average of $56.53 and a two-hundred day simple moving average of $60.61. Bancorp has a 12 month low of $49.19 and a 12 month high of $81.65.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. Analysts expect that Bancorp will post 5.95 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the transaction, the chief marketing officer directly owned 24,942 shares in the company, valued at $1,502,506.08. This trade represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ryan Harris sold 4,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $53.18, for a total transaction of $239,310.00. Following the sale, the executive vice president directly owned 150,516 shares of the company’s stock, valued at approximately $8,004,440.88. The trade was a 2.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 17,370 shares of company stock worth $1,014,778. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

Large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC boosted its stake in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after purchasing an additional 235 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Bancorp by 78.6% in the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after purchasing an additional 176 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Bancorp in the fourth quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bancorp by 732.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after buying an additional 659 shares during the last quarter. Finally, IFP Advisors Inc bought a new stake in Bancorp during the third quarter worth $66,000. Institutional investors own 96.22% of the company’s stock.

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.