Bancorp Upgraded to Buy at BTIG Research (TBBK)
Bancorp (NASDAQ:TBBK) was upgraded by equities researchers at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $14.00 price objective on the stock. BTIG Research’s price target would suggest a potential upside of 19.25% from the company’s current price.
A number of other analysts have also recently weighed in on TBBK. Analysts at Raymond James reiterated an “outperform” rating on shares of Bancorp in a research note on Thursday, June 12th. They now have a $14.00 price target on the stock, down previously from $18.00. Separately, analysts at Sandler O’Neill downgraded shares of Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 11th. Finally, analysts at Sterne Agee downgraded shares of Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $14.27.
Shares of Bancorp (NASDAQ:TBBK) traded up 1.62% during mid-day trading on Thursday, hitting $11.93. 68,854 shares of the company’s stock traded hands. Bancorp has a 1-year low of $9.88 and a 1-year high of $20.24. The stock has a 50-day moving average of $14.36 and a 200-day moving average of $17.33. The company has a market cap of $449.8 million and a P/E ratio of 25.03.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.27. Analysts expect that Bancorp will post $0.51 EPS for the current fiscal year.
In other Bancorp news, CEO Betsy Z. Cohen bought 20,000 shares of the company’s stock on the open market in a transaction dated Friday, June 13th. The shares were purchased at an average price of $11.48 per share, for a total transaction of $229,600.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
The Bancorp, Inc is a financial holding company with a wholly owned subsidiary, The Bancorp Bank (NASDAQ:TBBK).
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