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

Bancorp (NASDAQ:TBBK)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a research report issued on Tuesday, Benzinga reports. They currently have a $55.00 price target on the bank’s stock. Piper Sandler’s target price would suggest a potential upside of 41.53% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods reduced their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, April 5th.

Bancorp Stock Up 2.5 %

NASDAQ TBBK traded up $0.96 during trading on Tuesday, hitting $38.86. The company’s stock had a trading volume of 276,212 shares, compared to its average volume of 611,747. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $47.11. The company has a market cap of $2.03 billion, a PE ratio of 10.57 and a beta of 1.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98. The business’s 50 day simple moving average is $33.32 and its 200-day simple moving average is $36.69.

Bancorp (NASDAQ:TBBK) last released its earnings results on Friday, April 26th. The bank reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $123.80 million during 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 last year, the business earned $0.88 EPS. On average, equities analysts anticipate that Bancorp will post 4.51 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, EVP Jennifer F. Terry sold 11,256 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the sale, the executive vice president now owns 15,262 shares in the company, valued at $491,131.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the sale, the executive vice president now owns 15,262 shares in the company, valued at approximately $491,131.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hersh Kozlov acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were 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 $3,619,417.92. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,706 shares of company stock worth $54,962. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TBBK. EverSource Wealth Advisors LLC increased its stake in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares in the last quarter. Jane Street Group LLC grew its holdings in Bancorp by 129.0% in the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Bancorp in the first quarter valued at approximately $267,000. Lazard Asset Management LLC raised its stake in shares of Bancorp by 51.5% during the 1st quarter. Lazard Asset Management LLC now owns 15,296 shares of the bank’s stock worth $511,000 after buying an additional 5,201 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Bancorp during the 1st quarter valued at approximately $785,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

About Bancorp

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.