Bancorp (NASDAQ:TBBK) Cut to Market Perform at Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK - Get Free Report) was downgraded by equities researchers at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a note issued to investors on Thursday, Marketbeat reports. They presently have a $65.00 price objective on the bank's stock, down from their previous price objective of $70.00. Keefe, Bruyette & Woods' target price would suggest a potential upside of 28.46% from the company's previous close.

Separately, Wall Street Zen lowered shares of Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Bancorp Stock Performance

NASDAQ:TBBK traded down $0.61 during trading hours on Thursday, hitting $50.60. 674,587 shares of the company traded hands, compared to its average volume of 572,917. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 11.77 and a beta of 1.24. Bancorp has a twelve month low of $32.56 and a twelve month high of $65.84. The firm has a 50-day moving average of $50.00 and a 200 day moving average of $53.26. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). The company had revenue of $175.39 million for the quarter, compared to analyst estimates of $108.88 million. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, analysts forecast that Bancorp will post 5.31 EPS for the current year.

Institutional Investors Weigh In On Bancorp

Several large investors have recently made changes to their positions in TBBK. Quarry LP bought a new stake in shares of Bancorp in the 1st quarter worth about $39,000. Smartleaf Asset Management LLC grew its holdings in shares of Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after purchasing an additional 489 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Bancorp in the 1st quarter worth about $58,000. GAMMA Investing LLC grew its holdings in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock worth $77,000 after purchasing an additional 456 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Bancorp by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after purchasing an additional 424 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.