The Bancorp (TBBK) Rating Increased to Buy at Zacks Investment Research
The Bancorp (NASDAQ:TBBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $11.00 target price on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.11% from the company’s current price.
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. “
Separately, Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 target price on shares of The Bancorp in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The Bancorp currently has a consensus rating of “Buy” and a consensus target price of $8.94.
Shares of The Bancorp (NASDAQ:TBBK) opened at $9.99 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The Bancorp has a fifty-two week low of $4.41 and a fifty-two week high of $10.55. The company has a market cap of $550.33, a P/E ratio of 166.50 and a beta of 1.24.
In other news, Director Daniel G. Cohen sold 250,000 shares of The Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $9.53, for a total value of $2,382,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Chrystal sold 62,285 shares of The Bancorp stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $9.65, for a total transaction of $601,050.25. The disclosure for this sale can be found here. 12.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of The Bancorp in the third quarter worth approximately $103,000. CAPROCK Group Inc. purchased a new position in shares of The Bancorp in the third quarter worth approximately $106,000. Goldman Sachs Group Inc. increased its position in shares of The Bancorp by 55.5% in the first quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock worth $156,000 after acquiring an additional 10,895 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of The Bancorp in the third quarter worth approximately $162,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of The Bancorp by 0.5% in the second quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock worth $167,000 after acquiring an additional 117 shares in the last quarter. 72.84% of the stock is currently owned by institutional investors and hedge funds.
The 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).
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