Bancorp (NASDAQ:TBBK) Rating Lowered to “Strong Sell” at Zacks Research

Bancorp (NASDAQ:TBBK) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on TBBK. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. William Blair set a $60.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $58.50.

Bancorp Trading Down 2.8%

Shares of NASDAQ:TBBK traded down $1.70 during mid-day trading on Tuesday, reaching $58.54. 674,758 shares of the company’s stock were exchanged, compared to its average volume of 737,292. The business’s fifty day moving average price is $67.75 and its 200-day moving average price is $69.65. Bancorp has a twelve month low of $40.51 and a twelve month high of $81.65. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 11.90 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The business had revenue of $132.21 million for the quarter, compared to the consensus estimate of $101.10 million. On average, research analysts predict that Bancorp will post 5.31 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In related news, CFO Dominic C. Canuso acquired 1,800 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $61.24 per share, for a total transaction of $110,232.00. Following the completion of the transaction, the chief financial officer directly owned 3,500 shares in the company, valued at approximately $214,340. This trade represents a 105.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC grew its stake in shares of Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after acquiring an additional 176 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Bancorp during the 2nd quarter valued at about $53,000. Northwestern Mutual Wealth Management Co. raised its position in Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after purchasing an additional 659 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in Bancorp in the third quarter worth about $66,000. 96.22% of the stock is owned by institutional investors.

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.