November 30, 2016 - By Darrin Black
Piper Jaffray analyst began coverage on The Bancorp (NASDAQ:TBBK) with a $7.50 TP and Neutral rating. The TP suggests a potential upside of 5.19% from firm’s previous stock close.
Out of 2 analysts covering Bancorp (NASDAQ:TBBK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $10 is the highest target while $10 is the lowest. The $10 average target is 40.25% above today’s ($7.13) stock price. Bancorp has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The firm has “Strong Buy” rating by Raymond James given on Tuesday, August 9. TheStreet downgraded the stock to “Hold” rating in Thursday, August 27 report.
About 78,457 shares traded hands. Bancorp Inc (NASDAQ:TBBK) has risen 17.10% since April 27, 2016 and is uptrending. It has outperformed by 11.87% the S&P500.
Analysts await Bancorp Inc (NASDAQ:TBBK) to report earnings on February, 6. TBBK’s profit will be $4.28M for 22.28 P/E if the $0.08 EPS becomes a reality. After $-0.03 actual earnings per share reported by Bancorp Inc for the previous quarter, Wall Street now forecasts -366.67% EPS growth.
Insitutional Activity: The institutional sentiment increased to 1.67 in Q2 2016. Its up 0.27, from 1.4 in 2016Q1. The ratio is positive, as 3 funds sold all Bancorp Inc shares owned while 27 reduced positions. 11 funds bought stakes while 31 increased positions. They now own 28.19 million shares or 3.97% less from 29.35 million shares in 2016Q1.
Glenmede Trust Na last reported 0% of its portfolio in the stock. Citigroup has 1,022 shares for 0% of their US portfolio. State Board Of Administration Of Florida Retirement has 0% invested in the company for 15,877 shares. Mufg Americas has invested 0% of its portfolio in Bancorp Inc (NASDAQ:TBBK). Strs Ohio has 0% invested in the company for 94,600 shares. The Georgia-based Invesco Ltd has invested 0% in Bancorp Inc (NASDAQ:TBBK). Schwab Charles Investment accumulated 106,773 shares or 0% of the stock. Blackrock last reported 7,230 shares in the company. State Street holds 0% of its portfolio in Bancorp Inc (NASDAQ:TBBK) for 565,978 shares. Haverford holds 100,000 shares or 0.02% of its portfolio. Geode Capital Management Limited Co holds 0% or 254,609 shares in its portfolio. Oxford Asset Mngmt has invested 0.02% of its portfolio in Bancorp Inc (NASDAQ:TBBK). Moreover, Security has 0% invested in Bancorp Inc (NASDAQ:TBBK) for 690 shares. Aqr Mgmt Ltd Co, a Connecticut-based fund reported 16,126 shares. Price T Rowe Assocs Md owns 18,300 shares or 0% of their US portfolio.
Insider Transactions: Since August 10, 2016, the stock had 17 insider purchases, and 0 insider sales for $5.22 million net activity. BRADLEY MICHAEL J bought $70,170 worth of stock or 10,000 shares. Shares for $1.13 million were bought by Chrystal John C on Tuesday, October 4. COHEN DANIEL G also bought $1.98 million worth of Bancorp Inc (NASDAQ:TBBK) shares. KOZLOV HERSH bought $49,903 worth of Bancorp Inc (NASDAQ:TBBK) on Thursday, November 3. 26,000 shares were bought by Leto John, worth $135,460. The insider Beach Walter T bought $810,000. 2,000 shares with value of $12,175 were bought by McFadden Joseph Hugh on Friday, September 9.
The Bancorp, Inc. is a financial holding company, which operates through its subsidiary, The Bancorp Bank . The company has a market cap of $381.69 million. The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. It currently has negative earnings. The Firm operates through three divisions: specialty finance, payments and corporate.
According to Zacks Investment Research, “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.”
The Bancorp, Inc., incorporated on July 20, 1999, is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank). The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The Firm operates through three divisions: specialty finance, payments and corporate. The specialty finance segment includes commercial mortgage loan sales, small business administration (SBA) loans, leasing and security backed lines of credit (SBLOC), and any deposits generated by those business lines. The payments segment includes prepaid cards, card payments, automated clearing house (ACH) processing and healthcare accounts. The corporate segment includes the Company’s investment portfolio and corporate overhead, and other non-allocated expenses.
Another recent and important Bancorp Inc (NASDAQ:TBBK) news was published by Businesswire.com which published an article titled: “MB Bancorp, Inc. Appoints John Wright as New Chief Financial Officer” on November 28, 2016.
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By Darrin Black