Bancorp (NASDAQ:TBBK) Raised to Hold at ValuEngine

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ValuEngine upgraded shares of Bancorp (NASDAQ:TBBK) from a sell rating to a hold rating in a research note published on Monday, ValuEngine reports.

Several other equities analysts have also recently issued reports on the stock. TheStreet upgraded shares of Bancorp from a c rating to a b rating in a research report on Monday, June 3rd. Zacks Investment Research cut shares of Bancorp from a hold rating to a sell rating in a research report on Saturday, September 7th. Finally, BidaskClub upgraded shares of Bancorp from a strong sell rating to a sell rating in a research report on Thursday, September 12th.

TBBK stock opened at $10.12 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.70 and a quick ratio of 0.47. Bancorp has a 1 year low of $7.64 and a 1 year high of $10.87. The company has a 50 day simple moving average of $9.51 and a 200 day simple moving average of $9.18. The stock has a market cap of $590.46 million, a price-to-earnings ratio of 14.67 and a beta of 1.28.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Bancorp had a net margin of 30.27% and a return on equity of 11.42%. The firm had revenue of $54.29 million during the quarter, compared to analysts’ expectations of $52.99 million. On average, equities research analysts anticipate that Bancorp will post 0.95 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new stake in shares of Bancorp during the second quarter worth $212,000. Nuveen Asset Management LLC acquired a new stake in shares of Bancorp during the second quarter worth $4,787,000. UBS Asset Management Americas Inc. increased its position in shares of Bancorp by 25.3% during the second quarter. UBS Asset Management Americas Inc. now owns 62,743 shares of the bank’s stock worth $560,000 after buying an additional 12,649 shares during the period. Citadel Advisors LLC increased its position in shares of Bancorp by 64.2% during the second quarter. Citadel Advisors LLC now owns 187,521 shares of the bank’s stock worth $1,673,000 after buying an additional 73,341 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Bancorp by 12.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 906,952 shares of the bank’s stock worth $8,090,000 after buying an additional 100,346 shares during the period. Hedge funds and other institutional investors own 78.91% of the company’s stock.

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, 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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