The Bancorp, Inc. (NASDAQ:TBBK) Receives $59.50 Consensus PT from Brokerages

Shares of The Bancorp, Inc. (NASDAQ:TBBK) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $59.50.

Several equities research analysts have weighed in on TBBK shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Bank of America set a $60.00 target price on Bancorp in a research note on Wednesday, January 21st. Piper Sandler initiated coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 target price for the company. Wolfe Research set a $57.00 price target on Bancorp in a research note on Monday, February 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st.

Insider Activity at Bancorp

In related news, Director Mark E. Tryniski purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was bought at an average cost of $60.23 per share, with a total value of $301,150.00. Following the completion of the purchase, the director directly owned 18,966 shares in the company, valued at approximately $1,142,322.18. This represents a 35.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dominic C. Canuso acquired 2,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was bought at an average price of $60.54 per share, with a total value of $121,080.00. Following the completion of the acquisition, the chief financial officer directly owned 16,169 shares of the company’s stock, valued at $978,871.26. This trade represents a 14.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 9,080 shares of company stock valued at $548,933. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TBBK. Invesco Ltd. lifted its stake in shares of Bancorp by 4.8% in the 3rd quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock valued at $208,327,000 after purchasing an additional 126,302 shares during the period. American Century Companies Inc. grew its stake in Bancorp by 3.3% in the second quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock worth $154,705,000 after purchasing an additional 86,721 shares during the period. Geode Capital Management LLC raised its holdings in Bancorp by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,373,686 shares of the bank’s stock worth $78,266,000 after purchasing an additional 7,405 shares in the last quarter. Owls Nest Partners IA LLC raised its holdings in Bancorp by 6.4% in the second quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank’s stock worth $72,090,000 after purchasing an additional 75,635 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Bancorp by 11.5% during the second quarter. Franklin Resources Inc. now owns 1,112,816 shares of the bank’s stock valued at $63,397,000 after buying an additional 114,846 shares during the period. Institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

TBBK stock opened at $52.35 on Friday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.64 and a beta of 1.31. The firm’s 50-day moving average price is $60.59 and its two-hundred day moving average price is $67.21. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. Bancorp has a 12-month low of $40.51 and a 12-month high of $81.65.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The firm had revenue of $132.21 million for the quarter, compared to analysts’ expectations of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. As a group, equities analysts predict that Bancorp will post 5.31 earnings per share for the current year.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.