Bancorp (NASDAQ:TBBK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Bancorp Trading Down 1.6 %

NASDAQ:TBBK opened at $56.88 on Tuesday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 14.36 and a beta of 1.48. Bancorp has a one year low of $29.92 and a one year high of $61.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The business’s 50-day simple moving average is $54.76 and its 200 day simple moving average is $47.37.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, sell-side analysts predict that Bancorp will post 4.3 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Cohn purchased 545 shares of the stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the acquisition, the director now directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. raised its stake in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares during the period. GAMMA Investing LLC grew its holdings in shares of Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Bancorp during the third quarter valued at approximately $54,000. Advisors Asset Management Inc. lifted its holdings in shares of Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Bancorp in the 3rd quarter worth approximately $77,000. 96.22% of the stock is currently 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.