The Bancorp, Inc. (NASDAQ:TBBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $9.50 price objective on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.96% from the company’s previous close.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

A number of other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $6.50 price target on shares of The Bancorp in a research report on Friday, July 14th. BidaskClub downgraded shares of The Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Raymond James Financial, Inc. upgraded shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, UBS AG upgraded shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The Bancorp presently has an average rating of “Buy” and an average target price of $7.94.

The Bancorp (NASDAQ:TBBK) traded up 1.07% during midday trading on Wednesday, hitting $8.50. The stock had a trading volume of 218,785 shares. The company’s 50 day moving average is $8.27 and its 200 day moving average is $7.33. The company’s market cap is $473.93 million. The Bancorp has a 1-year low of $4.41 and a 1-year high of $9.00.

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In other The Bancorp news, EVP Jeffrey A. Nager acquired 5,000 shares of The Bancorp stock in a transaction that occurred on Thursday, August 31st. The shares were bought at an average price of $7.82 per share, with a total value of $39,100.00. Following the completion of the purchase, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $78,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Castle Creek Capital Partners acquired 225,000 shares of The Bancorp stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average cost of $7.41 per share, for a total transaction of $1,667,250.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 323,700 shares of company stock worth $2,409,100. Insiders own 12.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TBBK. Bank of New York Mellon Corp boosted its position in The Bancorp by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 337,126 shares of the bank’s stock valued at $1,719,000 after acquiring an additional 26,826 shares during the last quarter. Swiss National Bank boosted its position in The Bancorp by 43.5% during the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock valued at $465,000 after acquiring an additional 27,600 shares during the last quarter. American International Group Inc. boosted its position in The Bancorp by 51.8% during the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock valued at $156,000 after acquiring an additional 10,447 shares during the last quarter. California Public Employees Retirement System boosted its position in The Bancorp by 22.9% during the first quarter. California Public Employees Retirement System now owns 189,700 shares of the bank’s stock valued at $967,000 after acquiring an additional 35,300 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in The Bancorp by 4.5% during the first quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock valued at $10,646,000 after acquiring an additional 90,800 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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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