Bancorp (NASDAQ:TBBK) Upgraded at StockNews.com

StockNews.com upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research report released on Wednesday morning.

Bancorp Stock Up 0.5 %

NASDAQ TBBK opened at $56.08 on Wednesday. Bancorp has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a market capitalization of $2.69 billion, a P/E ratio of 14.16 and a beta of 1.48. The company’s 50 day simple moving average is $55.21 and its 200 day simple moving average is $48.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). The company had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same period in the prior year, the company posted $0.92 EPS. Equities research analysts expect that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bancorp

Institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC grew its position in Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after purchasing an additional 56,959 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after acquiring an additional 144,867 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Bancorp during the third quarter worth $300,000. Geode Capital Management LLC boosted its position in Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after purchasing an additional 6,459 shares during the last quarter. Finally, Barclays PLC grew its stake in Bancorp by 34.1% in the third quarter. Barclays PLC now owns 140,844 shares of the bank’s stock valued at $7,536,000 after purchasing an additional 35,777 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

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.