Bancorp (NASDAQ:TBBK) Upgraded to Sell at BidaskClub
TBBK has been the topic of a number of other reports. TheStreet raised shares of Bancorp from a c rating to a b rating in a research note on Monday, June 3rd. Zacks Investment Research downgraded shares of Bancorp from a hold rating to a sell rating in a research note on Saturday, September 7th. Finally, ValuEngine raised shares of Bancorp from a sell rating to a hold rating in a research note on Wednesday, July 31st.
TBBK traded up $0.20 on Thursday, reaching $10.25. The company had a trading volume of 18,113 shares, compared to its average volume of 173,031. The business has a 50 day simple moving average of $9.44 and a 200 day simple moving average of $9.15. The company has a market cap of $544.47 million, a price-to-earnings ratio of 14.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.47 and a current ratio of 0.70. Bancorp has a 52-week low of $7.64 and a 52-week high of $10.87.
Hedge funds and other institutional investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan bought a new position in Bancorp during the second quarter valued at approximately $624,000. Wedge Capital Management L L P NC bought a new position in Bancorp during the second quarter valued at approximately $368,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Bancorp by 219.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,075 shares of the bank’s stock valued at $421,000 after acquiring an additional 35,775 shares during the last quarter. Kennedy Capital Management Inc. grew its position in Bancorp by 66.7% during the first quarter. Kennedy Capital Management Inc. now owns 532,693 shares of the bank’s stock valued at $4,304,000 after acquiring an additional 213,147 shares during the last quarter. Finally, Capital Investment Counsel Inc grew its position in Bancorp by 23.8% during the second quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock valued at $110,000 after acquiring an additional 2,381 shares during the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.
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.
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