Bancorp (NASDAQ:TBBK) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Bancorp (NASDAQ:TBBK) from a buy rating to a hold rating in a report issued on Thursday, Zacks.com reports.

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. “

Several other research analysts also recently weighed in on TBBK. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. TheStreet downgraded Viavi Solutions from a b- rating to a c+ rating in a research note on Monday, June 3rd. Finally, ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd.

Shares of NASDAQ:TBBK opened at $9.07 on Thursday. Bancorp has a 12-month low of $7.64 and a 12-month high of $11.02. The firm has a market capitalization of $512.16 million, a P/E ratio of 11.93 and a beta of 1.31. The firm has a 50 day moving average of $9.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.70 and a quick ratio of 0.56.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, April 25th. The bank reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The business had revenue of $64.38 million during the quarter, compared to the consensus estimate of $60.19 million. Bancorp had a return on equity of 10.97% and a net margin of 29.70%. On average, equities research analysts anticipate that Bancorp will post 0.95 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Anderson Hoagland & Co. raised its position in Bancorp by 20.8% in the 2nd quarter. Anderson Hoagland & Co. now owns 121,843 shares of the bank’s stock valued at $1,084,000 after purchasing an additional 20,938 shares in the last quarter. Kennedy Capital Management Inc. raised its position in Bancorp by 66.7% in the 1st quarter. Kennedy Capital Management Inc. now owns 532,693 shares of the bank’s stock valued at $4,304,000 after purchasing an additional 213,147 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Bancorp in the 1st quarter valued at about $85,000. Rutabaga Capital Management LLC MA raised its position in shares of Bancorp by 6.7% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 1,470,729 shares of the bank’s stock worth $11,883,000 after acquiring an additional 92,236 shares in the last quarter. Finally, Globeflex Capital L P raised its position in shares of Bancorp by 10.1% during the 1st quarter. Globeflex Capital L P now owns 18,695 shares of the bank’s stock worth $151,000 after acquiring an additional 1,709 shares in the last quarter. 79.50% of the stock is owned by institutional investors and hedge funds.

Bancorp Company Profile

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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

Featured Story: Diversification For Individual Investors

Get a free copy of the Zacks research report on Bancorp (TBBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.