Bancorp (NASDAQ:TBBK) Rating Lowered to Sell at StockNews.com

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

A number of other brokerages also recently commented on TBBK. Piper Sandler lifted their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research report on Monday.

Bancorp Trading Up 1.3 %

Shares of TBBK traded up $0.66 during midday trading on Tuesday, reaching $51.14. The company had a trading volume of 511,360 shares, compared to its average volume of 635,095. Bancorp has a 1-year low of $29.92 and a 1-year high of $53.18. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $38.58 and a 200-day simple moving average of $37.58. The stock has a market cap of $2.67 billion, a PE ratio of 13.90 and a beta of 1.47.

Insider Activity at Bancorp

In other news, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total value of $25,002.24. Following the sale, the director now directly owns 7,638 shares of the company’s stock, valued at approximately $249,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cheryl Creuzot sold 766 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the transaction, the director now directly owns 7,638 shares in the company, valued at approximately $249,304.32. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,706 shares of company stock worth $54,962. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the period. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 1,272 shares during the period. Quest Partners LLC acquired a new position in shares of Bancorp in the fourth quarter worth $115,000. Summit Asset Management LLC purchased a new stake in shares of Bancorp during the fourth quarter worth $202,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Bancorp during the second quarter worth $216,000. 96.22% of the stock is owned by institutional investors and hedge funds.

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.