Bancorp Inc (NASDAQ:TBBK) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,240,000 shares, a decrease of 13.3% from the June 30th total of 1,430,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 401,100 shares, the short-interest ratio is presently 3.1 days.
TBBK stock opened at $9.43 on Friday. Bancorp has a twelve month low of $3.36 and a twelve month high of $13.73. The company has a quick ratio of 0.44, a current ratio of 0.79 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $8.93 and its 200-day moving average is $8.94. The firm has a market capitalization of $505.34 million, a PE ratio of 9.82 and a beta of 1.62.
Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 30th. The bank reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.07. Bancorp had a return on equity of 13.37% and a net margin of 16.64%. The company had revenue of $70.61 million for the quarter, compared to analyst estimates of $62.46 million. On average, equities research analysts anticipate that Bancorp will post 1.17 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Stone Ridge Asset Management LLC bought a new position in shares of Bancorp in the second quarter valued at approximately $105,000. Assenagon Asset Management S.A. increased its position in shares of Bancorp by 141.0% during the second quarter. Assenagon Asset Management S.A. now owns 143,141 shares of the bank’s stock valued at $1,403,000 after acquiring an additional 83,748 shares during the last quarter. Zeke Capital Advisors LLC purchased a new stake in shares of Bancorp during the second quarter valued at approximately $104,000. Frontier Capital Management Co. LLC increased its position in shares of Bancorp by 4.3% during the second quarter. Frontier Capital Management Co. LLC now owns 4,935,357 shares of the bank’s stock valued at $48,366,000 after acquiring an additional 203,682 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Bancorp during the second quarter valued at approximately $112,000. Institutional investors own 79.78% of the company’s stock.
TBBK has been the topic of several recent research reports. Piper Sandler cut their price target on Bancorp from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. BidaskClub lowered Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. Zacks Investment Research upgraded Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, June 16th. Finally, TheStreet lowered Bancorp from a “b-” rating to a “c” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $11.00.
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.
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