Zacks Investment Research Retrograde Bancorp (NASDAQ: TBBK) To Hold


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Bancorp (NASDAQ: TBBK) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research report released Saturday, Zacks.com reports.

According to Zacks, “Bancorp Bank is a federally insured, Delaware chartered commercial bank that focuses on serving small and medium-sized businesses and their executives in the Philadelphia-Wilmington market area, and on programs private label affinity groups, including merchant card service. “

Separately, Raymond James raised his target price on Bancorp shares from $ 30.00 to $ 38.00 and gave the company a “strong buy” rating in a report released on Monday, November 1.

TBBK shares opened at $ 25.31 on Friday. The stock has a market cap of $ 1.44 billion, a price-to-earnings ratio of 13.83 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.92 and a debt ratio of 0.24. Bancorp has a 12 month low of $ 13.26 and a 12 month high of $ 33.36. The company has a 50-day moving average price of $ 28.42 and a two-hundred-day moving average price of $ 25.77.

Bancorp (NASDAQ: TBBK) last released its quarterly earnings data on Wednesday, October 27. The bank reported earnings of $ 0.48 per share for the quarter, beating the consensus estimate of $ 0.43 by $ 0.05 by Thomson Reuters. The company posted revenue of $ 77.48 million in the quarter, compared to analysts’ estimates of $ 79.41 million. Bancorp had a net margin of 33.47% and a return on equity of 17.65%. In the same quarter of last year, the company posted earnings per share of $ 0.40. Equity research analysts predict Bancorp will post 1.86 EPS for the current fiscal year.

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Separately, insider Erika R. Caesar sold 4,000 Bancorp shares in a trade on Tuesday, November 9. The shares were sold at an average price of $ 32.20, for a total trade of $ 128,800.00. The sale was disclosed in a legal file with the SEC, which is available through this link. Company insiders own 4.50% of the company’s shares.

Several hedge funds and other institutional investors have recently changed their positions in the company. Mutual of America Capital Management LLC increased its position in Bancorp by 5.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 7,604 shares of the bank valued at $ 194,000 after acquiring 361 additional shares in the last quarter. Captrust Financial Advisors increased its position in Bancorp by 43.4% in the 3rd quarter. Captrust Financial Advisors now owns 1,382 shares of the bank valued at $ 35,000 after acquiring an additional 418 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Bancorp by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,937 shares of the bank valued at $ 689,000 after acquiring 488 additional shares in the last quarter. Deutsche Bank AG increased its position in Bancorp by 0.5% in the 3rd quarter. Deutsche Bank AG now owns 115,994 shares of the bank valued at $ 2,952,000 after acquiring an additional 626 shares in the last quarter. Finally, Elgethun Capital Management increased its position in Bancorp by 0.5% in the 2nd quarter. Elgethun Capital Management now owns 190,190 shares of the bank valued at $ 4,376,000 after acquiring 954 additional shares in the last quarter. 90.63% of the shares are currently held by institutional investors.

About Bancorp

The Bancorp, Inc. operates as a financial holding company. The company provides private label banking and financial services through the Bank. It operates through the following segments: Specialized Financing, Payments and Corporates. The Finance specialty consists of sales and securitizations of commercial mortgages, loans for the administration of small businesses; direct leasing; and lines of credit and deposits guaranteed by guarantees and insurance generated by the business lines.

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