The Bancorp, Inc. (TBBK) Receives Average Recommendation of “Buy” from Brokerages
The Bancorp, Inc. (NASDAQ:TBBK) has been given an average rating of “Buy” by the nine brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.42.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of The Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. BidaskClub raised shares of The Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. UBS AG raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of The Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd.
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In other The Bancorp news, Director Walter T. Beach sold 106,784 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $7.74, for a total transaction of $826,508.16. Following the sale, the director now directly owns 122,640 shares in the company, valued at approximately $949,233.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey A. Nager purchased 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were bought at an average price of $7.82 per share, for a total transaction of $39,100.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $78,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 323,700 shares of company stock worth $2,409,100 over the last 90 days. 12.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. CAPROCK Group Inc. acquired a new position in shares of The Bancorp in the 3rd quarter worth approximately $106,000. UBS Asset Management Americas Inc. grew its stake in shares of The Bancorp by 0.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock worth $167,000 after purchasing an additional 117 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of The Bancorp by 20.4% in the 2nd quarter. Voya Investment Management LLC now owns 24,779 shares of the bank’s stock worth $188,000 after purchasing an additional 4,203 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of The Bancorp by 55.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock worth $156,000 after purchasing an additional 10,895 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of The Bancorp by 51.8% in the 1st quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock worth $156,000 after purchasing an additional 10,447 shares during the last quarter. 75.11% of the stock is currently owned by institutional investors.
The Bancorp (TBBK) opened at 8.48 on Wednesday. The firm has a 50 day moving average of $8.17 and a 200 day moving average of $7.22. The firm’s market cap is $472.82 million. The Bancorp has a 1-year low of $4.41 and a 1-year high of $8.66.
The Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. The company had revenue of $45.39 million during the quarter, compared to analyst estimates of $42.40 million. On average, equities research analysts expect that The Bancorp will post $0.48 EPS for the current year.
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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