Bancorp (NASDAQ:TBBK) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.
A number of other brokerages also recently issued reports on TBBK. Zacks Investment Research raised Bancorp from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research note on Tuesday, April 30th. ValuEngine cut Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Finally, TheStreet cut Bancorp from a “b-” rating to a “c” rating in a report on Monday, April 8th.
Shares of TBBK opened at $8.92 on Tuesday. Bancorp has a 52-week low of $7.64 and a 52-week high of $11.48. The firm has a market capitalization of $505.95 million, a price-to-earnings ratio of 12.93 and a beta of 1.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.70 and a quick ratio of 0.56.
Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Bancorp had a return on equity of 10.97% and a net margin of 29.70%. The business had revenue of $64.38 million during the quarter, compared to the consensus estimate of $60.19 million. On average, sell-side analysts forecast that Bancorp will post 0.95 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of Bancorp by 71.5% during the 4th quarter. Millennium Management LLC now owns 446,184 shares of the bank’s stock worth $3,552,000 after purchasing an additional 186,015 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Bancorp by 26.4% during the 4th quarter. Acadian Asset Management LLC now owns 183,504 shares of the bank’s stock worth $1,461,000 after purchasing an additional 38,343 shares during the period. Globeflex Capital L P grew its holdings in shares of Bancorp by 78.8% during the 4th quarter. Globeflex Capital L P now owns 16,986 shares of the bank’s stock worth $135,000 after purchasing an additional 7,486 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bancorp during the 4th quarter valued at about $130,000. Finally, Bank of New York Mellon Corp boosted its holdings in Bancorp by 39.4% during the 4th quarter. Bank of New York Mellon Corp now owns 382,241 shares of the bank’s stock valued at $3,043,000 after acquiring an additional 107,988 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.
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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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