Keefe, Bruyette & Woods Issues Positive Forecast for Bancorp (NASDAQ:TBBK) Stock Price

Bancorp (NASDAQ:TBBK) had its price objective lifted by investment analysts at Keefe, Bruyette & Woods from $66.00 to $72.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 15.41% from the stock’s current price.

TBBK has been the topic of several other research reports. Raymond James reaffirmed an “outperform” rating and issued a $67.00 target price (up previously from $60.00) on shares of Bancorp in a report on Monday. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Finally, Piper Sandler raised their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd.

Bancorp Stock Up 2.2 %

Shares of TBBK traded up $1.33 during mid-day trading on Monday, hitting $62.39. 302,559 shares of the company’s stock were exchanged, compared to its average volume of 442,084. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 14.49 and a beta of 1.49. Bancorp has a fifty-two week low of $29.92 and a fifty-two week high of $64.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The stock’s 50-day moving average is $55.17 and its 200-day moving average is $52.89.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, sell-side analysts anticipate that Bancorp will post 5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the transaction, the executive vice president now directly owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the period. R Squared Ltd acquired a new stake in shares of Bancorp during the fourth quarter worth $45,000. Point72 DIFC Ltd acquired a new stake in shares of Bancorp during the third quarter worth $54,000. GAMMA Investing LLC lifted its holdings in shares of Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after purchasing an additional 327 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Bancorp by 114.4% during the third 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 period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Company Profile

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.