Bancorp (NASDAQ:TBBK) Shares Down 9.7% - Should You Sell?

Key Points

• Bancorp's shares dropped by 9.7% during trading, closing at $62.86 after hitting a low of $60.26.
• Analysts maintain a largely positive outlook, with one "strong buy," five "buy," one "hold," and one "sell" rating, while the average price target is $62.00.
• The company reported a Q2 earnings per share (EPS) of $1.27, exceeding expectations, with projected annual EPS of 5.31.
• Institutional investors hold 96.22% of Bancorp's stock, indicating strong interest from hedge funds in recent quarters.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report)'s share price fell 9.7% during mid-day trading on Friday . The stock traded as low as $60.26 and last traded at $62.86. 278,129 shares traded hands during trading, a decline of 50% from the average session volume of 561,120 shares. The stock had previously closed at $69.62.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TBBK shares. Barclays reaffirmed a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Wall Street Zen cut Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Raymond James Financial upgraded Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Jefferies Financial Group upgraded Bancorp to a "buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Bancorp Trading Down 10.3%

The stock has a market cap of $2.92 billion, a PE ratio of 14.13 and a beta of 1.25. The business has a 50-day moving average of $56.74 and a 200 day moving average of $54.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.88 and a current ratio of 0.91.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.01. The firm had revenue of $138.00 million during 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 research analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Institutional Trading of Bancorp

A number of hedge funds have recently added to or reduced their stakes in TBBK. Invesco Ltd. boosted its stake in Bancorp by 26.2% in the 4th quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock worth $118,251,000 after buying an additional 466,795 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Bancorp by 65.7% in the 4th quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock worth $51,286,000 after buying an additional 386,295 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Bancorp by 741.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 428,942 shares of the bank's stock worth $22,665,000 after buying an additional 377,993 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Bancorp by 599.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank's stock worth $19,390,000 after buying an additional 315,772 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Bancorp by 70.3% in the 4th quarter. JPMorgan Chase & Co. now owns 653,444 shares of the bank's stock worth $34,391,000 after buying an additional 269,660 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

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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