The Bancorp, Inc. (TBBK) Given Consensus Recommendation of “Buy” by Brokerages
The Bancorp, Inc. (NASDAQ:TBBK) has been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.75.
Several analysts recently commented on the stock. UBS AG raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, July 31st. BidaskClub upgraded shares of The Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of The Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, TheStreet upgraded shares of The Bancorp from a “d+” rating to a “c-” rating in a research note on Tuesday, June 27th.
The Bancorp (NASDAQ TBBK) opened at 8.27 on Friday. The firm’s market cap is $461.11 million. The stock’s 50 day moving average is $7.74 and its 200-day moving average is $6.60. The Bancorp has a 12 month low of $4.41 and a 12 month high of $8.40.
The Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, July 27th. The bank reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $45.39 million during the quarter, compared to the consensus estimate of $42.40 million. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. On average, analysts anticipate that The Bancorp will post $0.48 earnings per share for the current fiscal year.
In related news, EVP Ron J. Wechsler sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $7.61, for a total transaction of $38,050.00. Following the completion of the transaction, the executive vice president now directly owns 43,299 shares in the company, valued at approximately $329,505.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Castle Creek Capital Partners acquired 93,700 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $7.50 per share, with a total value of $702,750.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 323,700 shares of company stock valued at $2,409,100. 12.40% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in The Bancorp by 8.7% during the 2nd quarter. State Street Corp now owns 926,777 shares of the bank’s stock worth $7,026,000 after acquiring an additional 74,299 shares during the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in The Bancorp by 40.3% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 328,604 shares of the bank’s stock worth $2,490,000 after acquiring an additional 94,400 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in The Bancorp by 512.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 186,841 shares of the bank’s stock worth $1,416,000 after acquiring an additional 156,331 shares during the last quarter. Voya Investment Management LLC grew its holdings in The Bancorp by 20.4% during the 2nd quarter. Voya Investment Management LLC now owns 24,779 shares of the bank’s stock worth $188,000 after acquiring an additional 4,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in The Bancorp by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,687,237 shares of the bank’s stock worth $20,370,000 after acquiring an additional 233,451 shares during the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.
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The Bancorp Company Profile
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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