Bancorp’s (TBBK) “Hold” Rating Reiterated at Piper Jaffray Companies

Bancorp (NASDAQ:TBBK)‘s stock had its “hold” rating reissued by Piper Jaffray Companies in a research report issued to clients and investors on Tuesday.

A number of other equities analysts have also recently commented on TBBK. Zacks Investment Research raised shares of Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, November 1st. Sandler O’Neill restated a “hold” rating and issued a $11.00 target price on shares of Bancorp in a report on Friday, January 12th. Raymond James Financial upgraded shares of Bancorp from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $11.00 to $13.00 in a report on Friday, January 26th. Finally, BidaskClub lowered shares of Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Bancorp presently has an average rating of “Buy” and an average price target of $10.40.

Shares of Bancorp (TBBK) traded down $0.01 during trading hours on Tuesday, hitting $10.39. 234,037 shares of the company’s stock were exchanged, compared to its average volume of 370,835. Bancorp has a 1-year low of $4.41 and a 1-year high of $11.28. The stock has a market cap of $581.50, a PE ratio of 26.64 and a beta of 1.23. The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

In other news, Director John C. Chrystal sold 62,285 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $9.65, for a total value of $601,050.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel G. Cohen sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $9.53, for a total transaction of $2,382,500.00. The disclosure for this sale can be found here. 12.40% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in TBBK. Cubist Systematic Strategies LLC bought a new stake in shares of Bancorp in the 3rd quarter worth about $103,000. CAPROCK Group Inc. bought a new stake in Bancorp during the 3rd quarter valued at about $106,000. Trexquant Investment LP bought a new stake in Bancorp during the 3rd quarter valued at about $162,000. UBS Asset Management Americas Inc. lifted its holdings in Bancorp by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock valued at $167,000 after buying an additional 117 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Bancorp by 20.4% during the 2nd quarter. Voya Investment Management LLC now owns 24,779 shares of the bank’s stock valued at $188,000 after buying an additional 4,203 shares in the last quarter. Hedge funds and other institutional investors own 74.43% of the company’s stock.

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About 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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