Bancorp (TBBK) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a buy rating in a research note published on Friday. The brokerage currently has $9.75 target price 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. “

Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Bancorp from a strong sell rating to a sell rating in a research note on Thursday, October 18th. ValuEngine cut shares of Bancorp from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Finally, TheStreet raised shares of Bancorp from a c rating to a b rating in a research note on Monday, November 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $11.38.

Shares of NASDAQ TBBK opened at $8.48 on Friday. The stock has a market capitalization of $492.21 million, a P/E ratio of 16.63 and a beta of 1.10. Bancorp has a 52 week low of $7.64 and a 52 week high of $12.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.59 and a current ratio of 0.67.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.90. Bancorp had a net margin of 23.24% and a return on equity of 11.34%. The firm had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $120.75 million. As a group, equities research analysts expect that Bancorp will post 0.78 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new stake in shares of Bancorp during the 2nd quarter worth about $168,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Bancorp by 358.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 16,734 shares of the bank’s stock worth $175,000 after purchasing an additional 13,083 shares during the last quarter. Putnam Investments LLC purchased a new position in shares of Bancorp during the 2nd quarter worth about $1,559,000. IndexIQ Advisors LLC lifted its holdings in shares of Bancorp by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 210,486 shares of the bank’s stock worth $2,019,000 after acquiring an additional 7,952 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Bancorp by 10.5% during the 2nd quarter. BlackRock Inc. now owns 3,561,159 shares of the bank’s stock worth $37,250,000 after acquiring an additional 339,576 shares during the period. 80.11% of the stock is currently owned by institutional investors.

About Bancorp

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and retirement accounts.

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