Bancorp (NASDAQ:TBBK) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bancorp (NASDAQ:TBBK) from a "hold" to a sell rating in a note to investors.
• Analyst coverage is mixed but tilts positive—MarketBeat shows one Strong Buy, six Buys and three Holds with a consensus rating of Moderate Buy and an average price target of $59.50; the stock opened around $58.52 (market cap ~$2.47B).
• In the latest quarter Bancorp reported EPS of $1.28 (missing the $1.46 estimate) while revenue of $132.2M beat expectations, and the bank posted a 28.91% return on equity.

Bancorp (NASDAQ:TBBK - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Several other research firms have also recently issued reports on TBBK. Raymond James Financial restated a "strong-buy" rating on shares of Bancorp in a research note on Tuesday, January 13th. Bank of America set a $60.00 target price on shares of Bancorp in a research note on Wednesday, January 21st. Royal Bank Of Canada restated an "outperform" rating and set a $57.00 target price on shares of Bancorp in a research note on Wednesday, January 21st. Piper Sandler assumed coverage on shares of Bancorp in a research note on Thursday, March 12th. They set an "overweight" rating and a $66.00 target price on the stock. Finally, Zacks Research upgraded shares of Bancorp from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.50.

Bancorp Stock Performance

Shares of Bancorp stock opened at $58.52 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 11.89 and a beta of 1.28. The firm's 50-day moving average is $55.82 and its 200 day moving average is $64.67. Bancorp has a 1 year low of $41.46 and a 1 year high of $81.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.18). The firm had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. Sell-side analysts anticipate that Bancorp will post 5.31 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, EVP Ryan Harris sold 4,500 shares of the company's stock in a transaction dated Friday, March 13th. The shares were 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 of the company's stock, valued at $8,004,440.88. This represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark E. Tryniski purchased 5,000 shares of Bancorp stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average cost of $60.23 per share, with a total value of $301,150.00. Following the transaction, the director directly owned 18,966 shares in the company, valued at approximately $1,142,322.18. The trade was a 35.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 9,080 shares of company stock worth $548,933 over the last 90 days. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in TBBK. Ameriprise Financial Inc. increased its position in shares of Bancorp by 273.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank's stock valued at $46,574,000 after purchasing an additional 455,265 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in Bancorp by 148.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank's stock worth $27,227,000 after acquiring an additional 241,058 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in Bancorp by 25.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank's stock worth $72,360,000 after acquiring an additional 219,351 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in Bancorp in the 3rd quarter worth approximately $13,422,000. Finally, Epoch Investment Partners Inc. increased its holdings in Bancorp by 306.6% in the 3rd quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank's stock worth $15,672,000 after acquiring an additional 157,796 shares in the last quarter. Hedge funds and other 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.

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