Bancorp (TBBK) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a buy rating in a research note issued to investors on Friday.
A number of other research firms also recently issued reports on TBBK. Zacks Investment Research raised Bancorp from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Friday, December 22nd. Sandler O’Neill reaffirmed a hold rating and issued a $11.00 target price on shares of Bancorp in a research report on Friday, January 12th. Raymond James Financial raised Bancorp from an outperform rating to a strong-buy rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Friday, January 26th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $9.00 target price on shares of Bancorp in a research report on Friday, November 10th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $10.40.
Shares of Bancorp (NASDAQ:TBBK) opened at $10.40 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 stock has a market capitalization of $581.50, a PE ratio of 26.69 and a beta of 1.23. Bancorp has a 12-month low of $4.41 and a 12-month high of $11.28.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Bancorp by 1.1% during the fourth quarter. BlackRock Inc. now owns 3,249,097 shares of the bank’s stock worth $32,101,000 after buying an additional 36,347 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Bancorp by 9.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock worth $24,283,000 after buying an additional 248,998 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Bancorp by 31.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock worth $27,843,000 after buying an additional 681,608 shares during the last quarter. State Street Corp increased its position in Bancorp by 8.7% during the second quarter. State Street Corp now owns 926,777 shares of the bank’s stock worth $7,026,000 after buying an additional 74,299 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA acquired a new position in Bancorp during the fourth quarter worth approximately $7,221,000. 74.43% of the stock is currently owned by hedge funds and other institutional investors.
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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