Bancorp (NASDAQ:TBBK) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bancorp (NASDAQ:TBBK) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $11.00 price objective on the bank’s stock.

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. “

TBBK has been the subject of a number of other research reports. ValuEngine raised shares of Bancorp from a sell rating to a hold rating in a report on Wednesday, July 31st. BidaskClub raised shares of Bancorp from a strong sell rating to a sell rating in a report on Wednesday, July 31st. Finally, TheStreet raised shares of Bancorp from a c rating to a b rating in a report on Monday, June 3rd.

Shares of TBBK stock opened at $9.75 on Wednesday. The company has a market capitalization of $535.39 million, a price-to-earnings ratio of 14.13 and a beta of 1.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.47 and a current ratio of 0.70. The company has a 50-day simple moving average of $9.35 and a 200 day simple moving average of $9.08. Bancorp has a 52 week low of $7.64 and a 52 week high of $10.87.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $54.29 million during the quarter, compared to the consensus estimate of $52.99 million. Bancorp had a net margin of 30.27% and a return on equity of 11.42%. Sell-side analysts forecast that Bancorp will post 0.98 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of TBBK. New York State Teachers Retirement System bought a new stake in Bancorp in the 1st quarter valued at about $36,000. BerganKDV Wealth Management LLC boosted its holdings in Bancorp by 31.3% in the 1st quarter. BerganKDV Wealth Management LLC now owns 9,607 shares of the bank’s stock valued at $78,000 after purchasing an additional 2,292 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Bancorp in the 1st quarter valued at about $85,000. Panagora Asset Management Inc. boosted its holdings in Bancorp by 3,288.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 10,945 shares of the bank’s stock valued at $98,000 after purchasing an additional 10,622 shares during the period. Finally, Capital Investment Counsel Inc boosted its holdings in Bancorp by 23.8% in the 2nd quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock valued at $110,000 after purchasing an additional 2,381 shares during the period. 78.14% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: What are municipal bonds?

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.