Bancorp (NASDAQ:TBBK) Shares Gap Down – Time to Sell?

The Bancorp, Inc. (NASDAQ:TBBK) shares gapped down prior to trading on Wednesday . The stock had previously closed at $53.59, but opened at $51.99. Bancorp shares last traded at $51.93, with a volume of 254,194 shares.

Analysts Set New Price Targets

TBBK has been the topic of a number of research analyst reports. Raymond James reiterated an “outperform” rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods boosted their price objective on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, January 12th.

Bancorp Price Performance

The business’s fifty day simple moving average is $56.36 and its 200 day simple moving average is $54.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 11.97 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Research analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Bancorp

A number of institutional investors have recently made changes to their positions in TBBK. Smartleaf Asset Management LLC lifted its holdings in shares of Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock worth $40,000 after purchasing an additional 489 shares during the last quarter. R Squared Ltd acquired a new position in shares of Bancorp during the 4th quarter valued at $45,000. Point72 DIFC Ltd acquired a new stake in Bancorp in the 3rd quarter valued at about $54,000. Advisors Asset Management Inc. grew its position in Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Bancorp in the 3rd quarter valued at $77,000. 96.22% of the stock is currently owned by institutional investors.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.