Bancorp Price Target Increase by Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK) saw its price target raised by Keefe, Bruyette & Woods, moving from $66.00 to $72.00, as outlined in a recent research note released on Monday. This adjustment gives the stock an "outperform" rating, indicating positive expectations for its future performance.

The new price target suggests that there is potential for a 15.41% increase from the current stock price, which signifies a favorable outlook from the brokerage regarding Bancorp’s market position.

Additional Analyst Ratings

Other analysts have provided their insights into Bancorp's stock as well. Piper Sandler updated its price target from $61.00 to $64.00 while maintaining an "overweight" rating, following the trend of analysts expressing confidence in Bancorp's performance. Similarly, Raymond James retained an "outperform" rating but increased its price target to $67.00, up from $60.00.

However, not all analyst feedback has been positive. StockNews.com recently downgraded Bancorp from a "hold" rating to a "sell" rating, reflecting a divergence in opinion among analysts regarding the stock's viability in the current market.

Bancorp’s Stock Performance Review

On Monday, shares of Bancorp traded up by $1.33, reaching $62.39. The day’s trading volume stood at 302,559 shares, lower than the average volume of 442,084, indicating a possible shift in investor interest. Key financial ratios for Bancorp reveal a debt-to-equity ratio of 0.16, a quick ratio of 0.86, and a current ratio of 0.89. Over the past year, Bancorp’s stocks have shown a low of $29.92 and a high of $64.53.

In its latest earnings report posted on January 30, Bancorp announced an earnings per share (EPS) of $1.15, surpassing the consensus estimate of $1.13 by $0.02. Their net margin stands at 30.97%, and return on equity is notable at 27.33%. Analysts project an EPS of 5.25 for the current year as they continue to evaluate the bank's performance.

Insider Trading Activity

In related news, insider trading activity indicates some movement in management holdings. Executive Vice President Thomas G. Pareigat sold 5,466 shares on November 5 at an average price of $49.03, totaling nearly $268,000. Following this transaction, Pareigat continues to hold 73,114 shares valued at approximately $3.58 million, although this sale represented a decrease of about 6.96% in his ownership.

Institutional Investor Activity

Institutional investors have made recent adjustments to their holdings in Bancorp as well. Geode Capital Management increased their stake by 0.5%, owning over 1.36 million shares. Franklin Resources also raised its holdings by 18.6%, now possessing about 925,370 shares. Meanwhile, JPMorgan Chase saw a more substantial increase, growing their stake by 132.9%, totaling 383,784 shares. Institutional ownership within Bancorp remains strong, with hedge funds and institutional investors collectively owning approximately 96.22% of the bank's shares.

About Bancorp

Bancorp, Inc. operates as a bank holding company for The Bancorp Bank, National Association, which offers a variety of banking services in the United States. Their product range includes checking, savings, time deposits, money market accounts, and other financial services.

Bancorp, Stocks, PriceTarget