Keefe, Bruyette & Woods Issues Pessimistic Forecast for Bancorp (NASDAQ:TBBK) Stock Price

Bancorp (NASDAQ:TBBK - Get Free Report) had its price objective reduced by equities researchers at Keefe, Bruyette & Woods from $72.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 47.49% from the stock's previous close.

Several other equities analysts have also issued reports on the company. StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Raymond James restated an "outperform" rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd.

Bancorp Price Performance

Shares of Bancorp stock traded down $0.53 during trading hours on Monday, reaching $47.46. 88,111 shares of the company's stock were exchanged, compared to its average volume of 587,193. The business has a fifty day moving average of $50.65 and a two-hundred day moving average of $53.95. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.28 billion, a P/E ratio of 11.05 and a beta of 1.26. Bancorp has a 1 year low of $29.92 and a 1 year high of $65.84.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly 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). Bancorp had a net margin of 30.97% and a return on equity of 27.33%. The company had revenue of $175.39 million during the quarter, compared to analyst estimates of $108.88 million. As a group, research analysts predict that Bancorp will post 5.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently added to or reduced their stakes in TBBK. FMR LLC raised its position in Bancorp by 2.0% in the 4th quarter. FMR LLC now owns 4,306,715 shares of the bank's stock valued at $226,662,000 after purchasing an additional 85,908 shares during the last quarter. American Century Companies Inc. raised its position in Bancorp by 35.9% during the 4th quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank's stock worth $125,971,000 after buying an additional 631,744 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Bancorp by 26.2% in the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock valued at $118,251,000 after acquiring an additional 466,795 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Bancorp by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock worth $51,783,000 after purchasing an additional 33,943 shares in the last quarter. Finally, Nantahala Capital Management LLC increased its position in Bancorp by 65.7% during the 4th quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock worth $51,286,000 after purchasing an additional 386,295 shares during the period. 96.22% of the stock is currently owned by hedge funds and other 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.

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