Bancorp (TBBK) Rating Increased to Sell at BidaskClub

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Bancorp (NASDAQ:TBBK) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. TheStreet raised shares of Bancorp from a “c+” rating to a “b” rating in a research note on Friday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. Bancorp currently has an average rating of “Hold” and an average target price of $11.25.

TBBK stock opened at $10.12 on Thursday. The company has a market capitalization of $566.15 million, a price-to-earnings ratio of 19.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.63 and a quick ratio of 0.51. Bancorp has a one year low of $7.60 and a one year high of $12.00.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, July 26th. The bank reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.03). The firm had revenue of $46.57 million during the quarter, compared to analysts’ expectations of $47.51 million. Bancorp had a return on equity of 9.81% and a net margin of 6.61%. sell-side analysts expect that Bancorp will post 0.73 EPS for the current year.

In other news, Director Daniel G. Cohen sold 25,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $9.63, for a total transaction of $240,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel G. Cohen sold 140,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $9.83, for a total transaction of $1,376,200.00. The disclosure for this sale can be found here. 11.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Bancorp by 10.5% during the 2nd quarter. BlackRock Inc. now owns 3,561,159 shares of the bank’s stock valued at $37,250,000 after buying an additional 339,576 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,448,573 shares of the bank’s stock valued at $36,073,000 after buying an additional 145,998 shares during the period. Wells Fargo & Company MN grew its stake in shares of Bancorp by 25.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,887,109 shares of the bank’s stock valued at $19,739,000 after buying an additional 379,400 shares during the period. Nantahala Capital Management LLC grew its stake in shares of Bancorp by 4.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,711,379 shares of the bank’s stock valued at $17,901,000 after buying an additional 72,724 shares during the period. Finally, Rutabaga Capital Management LLC MA grew its stake in shares of Bancorp by 3.1% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 1,530,854 shares of the bank’s stock valued at $16,013,000 after buying an additional 45,748 shares during the period. 79.87% of the stock is owned by institutional investors.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and prepaid and debit cards.

Further Reading: Diversification

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