November 30, 2016 - By Darrin Black
The broker Piper Jaffray has initiated coverage on The Bancorp (NASDAQ:TBBK)‘s stock, rating it a “Neutral” while setting the target price at $7.5.
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 40.65% above today’s ($7.11) stock price. Bancorp has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The stock of Bancorp Inc (NASDAQ:TBBK) earned “Hold” rating by TheStreet on Thursday, August 27. The stock of Bancorp Inc (NASDAQ:TBBK) earned “Strong Buy” rating by Raymond James on Tuesday, August 9.
About 77,120 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 22.25 P/E if the $0.08 EPS becomes a reality. After $-0.03 actual EPS 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.
Los Angeles Capital Management & Equity Research holds 0% of its portfolio in Bancorp Inc (NASDAQ:TBBK) for 20,990 shares. Aqr Mngmt Ltd Com holds 16,126 shares or 0% of its portfolio. Renaissance Techs Ltd Liability Corp reported 162,800 shares or 0% of all its holdings. Moreover, Blackrock Fund Advsr has 0% invested in Bancorp Inc (NASDAQ:TBBK) for 904,254 shares. The Switzerland-based Credit Suisse Ag has invested 0% in Bancorp Inc (NASDAQ:TBBK). Rhumbline Advisers accumulated 41,334 shares or 0% of the stock. Blackrock Invest Mngmt Ltd Liability Company, a New Jersey-based fund reported 144,103 shares. First Trust Advsrs L P has 37,472 shares for 0% of their US portfolio. Manufacturers Life Insurance The holds 28,431 shares or 0% of its portfolio. Moreover, Wealthtrust Axiom Ltd has 0.02% invested in Bancorp Inc (NASDAQ:TBBK) for 10,000 shares. Sei Invs Com holds 0% or 461 shares in its portfolio. Eidelman Virant Cap accumulated 58,300 shares or 0.22% of the stock. Invesco Limited has 164,964 shares for 0% of their US portfolio. Goldman Sachs Grp Inc holds 0% of its portfolio in Bancorp Inc (NASDAQ:TBBK) for 20,134 shares. Ubs Asset Americas has invested 0% of its portfolio in Bancorp Inc (NASDAQ:TBBK).
Insider Transactions: Since August 10, 2016, the stock had 17 insider purchases, and 0 selling transactions for $5.22 million net activity. On Tuesday, August 23 Leto John bought $135,460 worth of the stock or 26,000 shares. Kozlowski Damian had bought 9,790 shares worth $48,461 on Wednesday, August 10. The insider McFadden Joseph Hugh bought 2,000 shares worth $12,175. McGraw Donald F JR had bought 10,000 shares worth $45,000. Paul Frenkiel bought $45,000 worth of Bancorp Inc (NASDAQ:TBBK) on Tuesday, October 4. Shares for $1.98 million were bought by COHEN DANIEL G. The insider KOZLOV HERSH bought $49,903.
The Bancorp, Inc. is a financial holding company, which operates through its subsidiary, The Bancorp Bank . The company has a market cap of $380.61 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