Bancorp Inc (TBBK) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Bancorp Inc (NASDAQ:TBBK) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $7.00 price target on the bank’s stock.

According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “

A number of other brokerages also recently issued reports on TBBK. BTIG Research upgraded Bancorp from a neutral rating to a buy rating and set a $8.00 price target on the stock in a research report on Monday, May 1st. TheStreet downgraded Bancorp from a c- rating to a d rating in a research report on Monday, April 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $7.35.

Shares of Bancorp (TBBK) traded up 3.59% during mid-day trading on Wednesday, reaching $6.34. The company had a trading volume of 162,923 shares. Bancorp has a 1-year low of $4.41 and a 1-year high of $8.20. The firm has a 50-day moving average price of $6.11 and a 200-day moving average price of $6.14. The stock’s market capitalization is $353.07 million.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 27th. The bank reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $44.26 million. Equities analysts expect that Bancorp will post $0.39 earnings per share for the current year.

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In related news, Director Walter T. Beach sold 41,360 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $6.19, for a total value of $256,018.40. Following the completion of the sale, the director now owns 296,829 shares of the company’s stock, valued at $1,837,371.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter T. Beach sold 33,640 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $6.26, for a total value of $210,586.40. Following the completion of the sale, the director now directly owns 362,829 shares of the company’s stock, valued at approximately $2,271,309.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,189 shares of company stock valued at $1,109,310. Insiders own 7.71% of the company’s stock.

Several large investors have recently bought and sold shares of TBBK. Wellington Management Group LLP boosted its stake in Bancorp by 2.0% in the first quarter. Wellington Management Group LLP now owns 5,241,020 shares of the bank’s stock valued at $26,729,000 after buying an additional 104,306 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in Bancorp by 177.2% in the third quarter. Nantahala Capital Management LLC now owns 4,229,213 shares of the bank’s stock valued at $27,152,000 after buying an additional 2,703,426 shares during the period. Second Curve Capital LLC boosted its stake in Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock valued at $15,991,000 after buying an additional 735,000 shares during the period. Wells Fargo & Company MN boosted its stake in Bancorp by 4.4% in the first quarter. Wells Fargo & Company MN now owns 2,466,233 shares of the bank’s stock valued at $12,578,000 after buying an additional 102,883 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Bancorp by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,453,786 shares of the bank’s stock valued at $12,514,000 after buying an additional 148,942 shares during the period. 67.98% of the stock is owned by hedge funds and other institutional investors.

Bancorp Company Profile

The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:TBBK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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