Bancorp (NASDAQ:TBBK) Downgraded by StockNews.com

Bancorp (NASDAQ:TBBK – Get Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other research analysts have also recently commented on TBBK. Piper Sandler dropped their price target on Bancorp from $43.00 to $39.00 in a research report on Thursday, April 6th. Keefe, Bruyette & Woods dropped their price target on Bancorp from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Finally, Raymond James started coverage on Bancorp in a research note on Monday, January 30th. They set an “outperform” rating and a $38.00 price objective on the stock. One analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Bancorp Stock Performance

Shares of NASDAQ TBBK traded up $0.70 during trading on Friday, reaching $33.04. 243,543 shares of the stock traded hands, compared to its average volume of 388,196. Bancorp has a 52-week low of $16.59 and a 52-week high of $37.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.99 and a quick ratio of 0.92. The company has a 50-day moving average of $28.91 and a 200-day moving average of $30.33. The stock has a market capitalization of $1.81 billion, a P/E ratio of 12.42 and a beta of 1.46.

Insider Activity at Bancorp

In related news, Director Daniela Mielke acquired 2,300 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $27.14 per share, for a total transaction of $62,422.00. Following the purchase, the director now owns 20,830 shares in the company, valued at approximately $565,326.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 3,000 shares of company stock worth $84,308. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bancorp

A number of institutional investors have recently added to or reduced their stakes in TBBK. Advisor Group Holdings Inc. increased its stake in Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after acquiring an additional 935 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Bancorp by 28.1% during the 3rd quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock valued at $50,000 after purchasing an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Bancorp during the 4th quarter valued at about $56,000. Emerald Advisers LLC bought a new position in shares of Bancorp during the 4th quarter valued at about $57,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Bancorp during the 2nd quarter valued at about $63,000. 90.02% of the stock is currently owned by institutional investors.

Bancorp Company Profile

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The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.