Bancorp (TBBK) Stock Rating Upgraded by Zacks Investment Research

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Bancorp (NASDAQ:TBBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $9.75 price target on the bank’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.66% from the company’s current price.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 29th. BidaskClub raised Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, TheStreet raised Bancorp from a “c” rating to a “b” rating in a research note on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $11.25.

Shares of Bancorp stock traded down $0.10 on Friday, hitting $8.43. 3,274 shares of the company traded hands, compared to its average volume of 236,278. The stock has a market cap of $492.21 million, a P/E ratio of 16.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.67 and a quick ratio of 0.59. Bancorp has a 52 week low of $7.64 and a 52 week high of $12.00.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.90. The firm had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $120.75 million. Bancorp had a net margin of 23.24% and a return on equity of 11.34%. As a group, equities analysts expect that Bancorp will post 0.78 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates acquired a new stake in shares of Bancorp during the 2nd quarter worth about $168,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Bancorp by 358.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 16,734 shares of the bank’s stock valued at $175,000 after acquiring an additional 13,083 shares during the last quarter. Putnam Investments LLC bought a new position in shares of Bancorp in the second quarter valued at approximately $1,559,000. IndexIQ Advisors LLC raised its stake in shares of Bancorp by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 210,486 shares of the bank’s stock valued at $2,019,000 after acquiring an additional 7,952 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Bancorp by 10.5% in the second quarter. BlackRock Inc. now owns 3,561,159 shares of the bank’s stock valued at $37,250,000 after acquiring an additional 339,576 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Bancorp Company Profile

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 retirement accounts.

Further Reading: Asset Allocation

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