Bancorp’s (TBBK) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Bancorp (NASDAQ:TBBK) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $55.00 price target on the bank’s stock.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Bancorp from $52.00 to $46.00 and set an outperform rating for the company in a report on Friday, April 5th. StockNews.com raised shares of Bancorp from a sell rating to a hold rating in a research report on Monday, April 29th.

Bancorp Trading Up 0.5 %

Shares of NASDAQ TBBK opened at $38.02 on Tuesday. The business’s 50 day moving average price is $33.71 and its 200-day moving average price is $36.68. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $47.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 10.33 and a beta of 1.47.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Friday, April 26th. The bank reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $123.80 million for the quarter, compared to analysts’ expectations of $126.86 million. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. During the same period in the prior year, the business posted $0.88 earnings per share. On average, sell-side analysts expect that Bancorp will post 4.51 earnings per share for the current year.

Insider Activity

In other news, Director Hersh Kozlov bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $32.53 per share, for a total transaction of $32,530.00. Following the purchase, the director now directly owns 111,264 shares in the company, valued at approximately $3,619,417.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Bancorp news, Director Hersh Kozlov acquired 1,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $32.53 per share, with a total value of $32,530.00. Following the completion of the acquisition, the director now owns 111,264 shares in the company, valued at $3,619,417.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Creuzot sold 766 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total transaction of $25,002.24. Following the transaction, the director now owns 7,638 shares of the company’s stock, valued at approximately $249,304.32. The disclosure for this sale can be found here. Insiders purchased a total of 1,706 shares of company stock valued at $54,962 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock valued at $121,225,000 after purchasing an additional 16,482 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Bancorp by 6.7% during the 4th quarter. Brown Advisory Inc. now owns 1,542,256 shares of the bank’s stock valued at $59,469,000 after buying an additional 96,551 shares during the period. Principal Financial Group Inc. grew its position in Bancorp by 21.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock worth $39,984,000 after acquiring an additional 184,647 shares during the period. American Century Companies Inc. raised its position in Bancorp by 21.9% in the third quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after purchasing an additional 175,854 shares during the period. Finally, Kennedy Capital Management LLC lifted its stake in shares of Bancorp by 9.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 703,454 shares of the bank’s stock valued at $24,269,000 after purchasing an additional 62,104 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.