Bancorp (NASDAQ:TBBK) Price Target Increased by Keefe, Bruyette & Woods

Bancorp (NASDAQ:TBBK) has recently seen a significant adjustment in its target share price by analysts at Keefe, Bruyette & Woods. In a research note released on Monday, the firm raised its price target from $66.00 to $72.00. Along with this increase, they assigned Bancorp an "outperform" rating, suggesting that the stock could see considerable positive momentum going forward.

The new price target indicates a potential upside of approximately 15.41% from Bancorp's current market price. This positive outlook highlights the analysts' confidence in the bank's performance and reflects favorable market conditions.

Other Analyst Ratings

Bancorp's upward adjustment from Keefe, Bruyette & Woods comes after similar upgrades from other research firms. On December 23rd, Piper Sandler also increased its price target from $61.00 to $64.00, rating the stock as "overweight." Meanwhile, in a report released the same day, Raymond James reaffirmed its "outperform" rating, slightly adjusting its price target to $67.00, up from a previous $60.00. On the contrary, StockNews.com had a less favorable outlook and downgraded Bancorp from a "hold" rating to a "sell" rating in a report dated January 12th.

Recent Stock Performance

In trading on Monday, shares of Bancorp rose by $1.33, bringing the stock price to $62.39. The trading volume recorded was 302,559 shares, which is lower than the average volume of 442,084. Bancorp has a current debt-to-equity ratio of 0.16, alongside a quick ratio of 0.86 and a current ratio of 0.89. The stock's 50-day and 200-day moving averages stand at $55.17 and $52.89, respectively. Over the past year, Bancorp's shares have fluctuated between a low of $29.92 and a high of $64.53, showing considerable growth.

Most recently, the company reported its earnings results on January 30th, indicating an earnings per share (EPS) of $1.15 for the quarter, which surpassed analysts' expectations of $1.13. The bank's net margin was noted at 30.97%, and it reported a return on equity of 27.33%. Analysts forecast an EPS of 5.25 for the current year as a group.

Insider Activity and Institutional Investments

In other developments, on November 5th, Thomas G. Pareigat, Executive Vice President, sold 5,466 shares of Bancorp's stock at an average price of $49.03, totaling around $267,998. After this sale, he retains ownership of 73,114 shares, valued at approximately $3.58 million, reflecting a 6.96% decrease in his stake. It is worth noting that insiders currently hold 5.20% of the company's stock.

Moreover, institutional investors have recently made adjustments to their holdings in Bancorp. Geode Capital Management LLC increased its stake by 0.5% during the third quarter, owning over 1.36 million shares valued at nearly $72.91 million. Franklin Resources Inc. expanded its holdings by 18.6%, now possessing approximately 925,370 shares valued at around $52.06 million. Additionally, JPMorgan Chase & Co. saw a notable increase of 132.9%, owning 383,784 shares valued at about $20.53 million after purchasing an additional 219,020 shares. Institutions cumulatively hold around 96.22% of Bancorp's stock.

Company Overview

Bancorp, Inc., the parent company of The Bancorp Bank, has established itself as a provider of various banking products and services within the United States. The bank offers a wide range of deposit services, including checking and savings accounts, money market accounts, overdrafts, and certificates of deposit. With its strong performance and commitment to customer service, Bancorp continues to position itself favorably in the competitive banking landscape.

Bancorp, Price, Analysis