Bancorp (NASDAQ:TBBK) Rating Increased to Hold at StockNews.com

Posted by Defense World Staff on Aug 12th, 2023

Bancorp (NASDAQ:TBBK – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

TBBK has been the subject of a number of other reports. Raymond James increased their price objective on Bancorp from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Piper Sandler boosted their price objective on Bancorp from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.67.

View Our Latest Stock Analysis on TBBK

Bancorp Price Performance

Shares of TBBK stock opened at $38.11 on Friday. The stock’s fifty day moving average is $35.93 and its 200-day moving average is $32.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 0.99. The stock has a market capitalization of $2.08 billion, a PE ratio of 12.62 and a beta of 1.47. Bancorp has a 52 week low of $21.58 and a 52 week high of $41.52.

Insider Activity at Bancorp

In other Bancorp news, Director Matthew Cohn bought 5,868 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average cost of $37.61 per share, for a total transaction of $220,695.48. Following the transaction, the director now owns 144,423 shares of the company’s stock, valued at $5,431,749.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Matthew Cohn bought 5,868 shares of the stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $37.61 per share, for a total transaction of $220,695.48. Following the completion of the purchase, the director now directly owns 144,423 shares in the company, valued at $5,431,749.03. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer F. Terry sold 3,051 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $32.80, for a total transaction of $100,072.80. Following the completion of the sale, the executive vice president now owns 21,807 shares of the company’s stock, valued at $715,269.60. The disclosure for this sale can be found here. In the last quarter, insiders have bought 9,226 shares of company stock worth $338,143. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its position in shares of Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after buying an additional 935 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Bancorp by 121.4% in the 1st quarter. JPMorgan Chase & Co. now owns 77,368 shares of the bank’s stock worth $2,192,000 after acquiring an additional 42,423 shares during the period. Raymond James & Associates increased its holdings in shares of Bancorp by 15.8% in the 1st quarter. Raymond James & Associates now owns 19,287 shares of the bank’s stock valued at $546,000 after purchasing an additional 2,638 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Bancorp by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 542,380 shares of the bank’s stock valued at $15,366,000 after purchasing an additional 12,020 shares in the last quarter. Finally, US Bancorp DE purchased a new position in shares of Bancorp in the 1st quarter valued at about $87,000. 90.48% of the stock is currently owned by institutional investors and hedge funds.

About Bancorp

(Get Free Report)

The Bancorp, Inc operates as the financial 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, medical savings, money market, individual retirement, and commercial accounts; certificates of deposit; and payroll cards.