Bancorp (NASDAQ:TBBK) PT Lowered to $46.00 at Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK - Get Free Report) had its target price reduced by Keefe, Bruyette & Woods from $52.00 to $46.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 43.88% from the company's previous close.

A number of other brokerages also recently issued reports on TBBK. StockNews.com upgraded Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, March 6th. Piper Sandler increased their price objective on Bancorp from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, December 21st. Finally, Raymond James raised their price target on Bancorp from $42.00 to $50.00 and gave the company an "outperform" rating in a research report on Monday, January 29th.

Bancorp Price Performance

Shares of TBBK stock traded down $0.06 on Friday, reaching $31.97. The company's stock had a trading volume of 623,208 shares, compared to its average volume of 645,171. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. Bancorp has a 12-month low of $25.97 and a 12-month high of $47.11. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.13 and a beta of 1.45. The stock's 50 day simple moving average is $39.24 and its 200-day simple moving average is $38.12.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The company had revenue of $119.15 million for the quarter, compared to the consensus estimate of $118.52 million. As a group, equities analysts predict that Bancorp will post 4.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, Director Stephanie B. Mudick purchased 2,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were acquired at an average price of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the transaction, the director now directly owns 31,584 shares of the company's stock, valued at approximately $1,172,082.24. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Stephanie B. Mudick acquired 2,000 shares of Bancorp stock in a transaction dated Tuesday, March 12th. The shares were purchased at an average cost of $37.11 per share, with a total value of $74,220.00. Following the completion of the purchase, the director now owns 31,584 shares of the company's stock, valued at $1,172,082.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matthew Cohn acquired 2,485 shares of Bancorp stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the purchase, the director now directly owns 157,627 shares of the company's stock, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. Insiders have bought 7,800 shares of company stock worth $308,838 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TBBK. Assenagon Asset Management S.A. grew its stake in shares of Bancorp by 79.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 88,285 shares of the bank's stock worth $3,404,000 after purchasing an additional 38,961 shares during the last quarter. First Hawaiian Bank grew its stake in shares of Bancorp by 45.9% in the fourth quarter. First Hawaiian Bank now owns 14,819 shares of the bank's stock worth $571,000 after purchasing an additional 4,664 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Bancorp by 89.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 127,192 shares of the bank's stock worth $4,904,000 after purchasing an additional 60,016 shares during the last quarter. Invesco Ltd. grew its stake in shares of Bancorp by 24.0% in the third quarter. Invesco Ltd. now owns 219,127 shares of the bank's stock worth $7,560,000 after purchasing an additional 42,346 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Bancorp in the third quarter worth about $1,272,000. 96.22% of the stock is owned by institutional investors.

About Bancorp

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.