Sandler O’Neill Reiterates “Hold” Rating for The Bancorp (TBBK)
The Bancorp (NASDAQ:TBBK)‘s stock had its “hold” rating reissued by research analysts at Sandler O’Neill in a research note issued to investors on Friday. They presently have a $11.00 price objective on the bank’s stock. Sandler O’Neill’s price target would indicate a potential upside of 1.85% from the stock’s previous close.
TBBK has been the subject of several other research reports. Zacks Investment Research downgraded The Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $9.00 price target on shares of The Bancorp in a report on Friday, November 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.75.
The Bancorp (NASDAQ TBBK) traded up $0.48 during trading on Friday, hitting $10.80. The company had a trading volume of 215,300 shares, compared to its average volume of 284,025. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.50. The company has a market cap of $576.47, a P/E ratio of 180.00 and a beta of 1.23. The Bancorp has a 1-year low of $4.41 and a 1-year high of $10.81.
Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of The Bancorp by 2.0% in the first quarter. Wellington Management Group LLP now owns 5,241,020 shares of the bank’s stock valued at $26,729,000 after purchasing an additional 104,306 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in shares of The Bancorp by 177.2% in the third quarter. Nantahala Capital Management LLC now owns 4,229,213 shares of the bank’s stock valued at $27,152,000 after buying an additional 2,703,426 shares during the period. Second Curve Capital LLC boosted its stake in shares of The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock valued at $15,991,000 after buying an additional 735,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of The Bancorp by 9.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock valued at $24,283,000 after buying an additional 248,998 shares during the period. Finally, Wells Fargo & Company MN boosted 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 period. 72.84% of the stock is currently owned by institutional investors.
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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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