Bancorp (NASDAQ:TBBK) Sets New 1-Year High – Still a Buy?

The Bancorp, Inc. (NASDAQ:TBBK) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $56.01 and last traded at $55.81, with a volume of 66916 shares trading hands. The stock had previously closed at $55.13.

Analyst Ratings Changes

Several analysts recently weighed in on TBBK shares. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Piper Sandler raised their price target on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 price objective (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Stock Up 2.0 %

The company has a market cap of $2.75 billion, a price-to-earnings ratio of 14.61 and a beta of 1.45. The stock’s 50-day moving average is $50.39 and its 200-day moving average is $41.36. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.03). The company had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. On average, analysts anticipate that The Bancorp, Inc. will post 4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently added to or reduced their stakes in TBBK. GAMMA Investing LLC lifted its holdings in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after purchasing an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after buying an additional 1,272 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Bancorp during the second quarter worth about $216,000. Profund Advisors LLC acquired a new stake in shares of Bancorp in the 2nd quarter worth about $237,000. Finally, Arcus Capital Partners LLC bought a new position in Bancorp in the 1st quarter valued at about $221,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

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.