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

Shares of The Bancorp, Inc. (NASDAQ:TBBK) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $59.50.

TBBK has been the subject of several analyst reports. Piper Sandler initiated coverage on Bancorp in a research note on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price for the company. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings downgraded Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Wolfe Research set a $57.00 target price on Bancorp in a research note on Monday, February 9th.

Bancorp Trading Down 1.2%

Shares of TBBK opened at $54.49 on Thursday. The business has a 50-day moving average of $56.52 and a 200 day moving average of $60.74. Bancorp has a fifty-two week low of $48.86 and a fifty-two week high of $81.65. The firm has a market cap of $2.27 billion, a P/E ratio of 10.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The company had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. As a group, research analysts forecast that Bancorp will post 5.95 EPS for the current year.

Insider Activity

In other news, EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $53.18, for a total transaction of $239,310.00. Following the completion of the sale, the executive vice president owned 150,516 shares in the company, valued at approximately $8,004,440.88. This trade represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the sale, the chief marketing officer owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,370 shares of company stock worth $1,014,778. 6.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC lifted its position in Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in Bancorp in the 4th quarter worth approximately $27,000. Bessemer Group Inc. lifted its position in Bancorp by 78.6% in the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after buying an additional 176 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Bancorp in the 2nd quarter worth approximately $53,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Bancorp by 732.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after buying an additional 659 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

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.