Bancorp (NASDAQ:TBBK) Reaches New 1-Year High - Time to Buy?

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.63 and last traded at $69.50, with a volume of 887655 shares traded. The stock had previously closed at $69.51.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TBBK. Morgan Stanley reissued an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Barclays reissued a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group raised Bancorp to a "buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Bancorp Trading Down 8.5%

The firm has a 50 day simple moving average of $56.74 and a 200 day simple moving average of $54.28. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.97 billion, a PE ratio of 14.37 and a beta of 1.25.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $138.00 million for the quarter, compared to analysts' expectations of $94.87 million. Bancorp had a return on equity of 27.31% and a net margin of 28.45%. Equities analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in Bancorp in the 1st quarter worth $39,000. Brooklyn Investment Group bought a new position in Bancorp in the 1st quarter worth $58,000. GAMMA Investing LLC raised its holdings in 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 period. New Age Alpha Advisors LLC bought a new position in Bancorp in the 4th quarter worth $139,000. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in Bancorp in the 2nd quarter worth $170,000. 96.22% of the stock is owned by institutional investors.

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.