BidaskClub Lowers The Bancorp, Inc. (TBBK) to Hold
The Bancorp, Inc. (NASDAQ:TBBK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other brokerages also recently issued reports on TBBK. UBS AG upgraded The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded The Bancorp from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. upgraded The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. ValuEngine upgraded The Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, TheStreet upgraded The Bancorp from a “d+” rating to a “c-” rating in a research report on Tuesday, June 27th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $7.75.
The Bancorp (NASDAQ TBBK) traded down 1.142% during mid-day trading on Friday, hitting $7.355. The company’s stock had a trading volume of 95,111 shares. The stock’s market cap is $410.09 million. The company’s 50 day moving average is $7.62 and its 200-day moving average is $6.17. The Bancorp has a 52-week low of $4.41 and a 52-week high of $8.20.
The Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 27th. The bank reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $45.39 million for the quarter, compared to the consensus estimate of $42.40 million. The Bancorp had a negative return on equity of 4.27% and a negative net margin of 16.27%. On average, equities analysts predict that The Bancorp will post $0.48 EPS for the current fiscal year.
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In related news, CFO Frenkiel Paul acquired 22,498 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were acquired at an average cost of $6.56 per share, for a total transaction of $147,586.88. Following the completion of the transaction, the chief financial officer now directly owns 42,498 shares in the company, valued at approximately $278,786.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Walter T. Beach sold 106,784 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $7.74, for a total value of $826,508.16. Following the sale, the director now owns 122,640 shares in the company, valued at $949,233.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 104,498 shares of company stock worth $687,987 and have sold 286,973 shares worth $1,935,818. Corporate insiders own 12.40% of the company’s stock.
Several large investors have recently modified their holdings of TBBK. Swiss National Bank increased its stake in shares of The Bancorp by 43.5% in the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock valued at $465,000 after buying an additional 27,600 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of The Bancorp by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 98,724 shares of the bank’s stock valued at $776,000 after buying an additional 26,624 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Bancorp by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,304,844 shares of the bank’s stock valued at $18,116,000 after buying an additional 313,419 shares during the last quarter. Sei Investments Co. increased its stake in shares of The Bancorp by 380.5% in the first quarter. Sei Investments Co. now owns 54,902 shares of the bank’s stock valued at $280,000 after buying an additional 43,475 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of The Bancorp by 4.4% in the first quarter. Wells Fargo & Company MN now owns 2,466,233 shares of the bank’s stock valued at $12,578,000 after buying an additional 102,883 shares during the last quarter. Hedge funds and other institutional investors own 77.40% of the company’s stock.
About The Bancorp
The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).
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