Bancorp (NASDAQ:TBBK) Downgraded to "Sell" Rating by StockNews.com

Bancorp (NASDAQ:TBBK - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday.

Other analysts also recently issued reports about the stock. Raymond James restated an "outperform" rating and set a $67.00 price target (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of Bancorp from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th.

Bancorp Stock Up 1.1%

TBBK stock opened at $54.35 on Wednesday. Bancorp has a 52 week low of $31.34 and a 52 week high of $65.84. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 12.64 and a beta of 1.31. The firm's 50-day moving average is $50.04 and its two-hundred day moving average is $53.73. 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 quarterly earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). Bancorp had a return on equity of 27.33% and a net margin of 30.97%. The company had revenue of $175.39 million for the quarter, compared to the consensus estimate of $108.88 million. On average, analysts forecast that Bancorp will post 5.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of Bancorp by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank's stock worth $16,032,000 after purchasing an additional 9,748 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bancorp in the fourth quarter worth approximately $3,474,000. Sanctuary Advisors LLC increased its position in shares of Bancorp by 111.9% in the fourth quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank's stock worth $638,000 after acquiring an additional 5,845 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after acquiring an additional 489 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Bancorp in the fourth quarter worth approximately $521,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Company Profile

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.

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