Raymond James Upgrades Bancorp Inc to Strong Buy

Brokerage firm Raymond James Upgrades its rating on Bancorp Inc(NASDAQ:TBBK). The shares have been rated Strong Buy. Previously, the analysts had a Market Perform rating on the shares. The rating by Raymond James was issued on Aug 9, 2016.

Bancorp Inc (TBBK) made into the market gainers list on Wednesdays trading session with the shares advancing 4.45% or 0.22 points. Due to strong positive momentum, the stock ended at $5.16, which is also near the day’s high of $5.16. The stock began the session at $4.97 and the volume stood at 4,09,056 shares. The 52-week high of the shares is $9 and the 52 week low is $3.88. The company has a current market capitalization of $196 M and it has 3,79,45,323 shares in outstanding.

Bancorp Inc(TBBK) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $20.89M. Analysts had an estimated revenue of $20.83M. Earnings per share were $-0.47. Analysts had estimated an EPS of $-0.23.

The Bancorp Inc. is a financial holding company which operates through its subsidiary The Bancorp Bank (the Bank) a chartered commercial bank located in Wilmington Delaware. The Company operates through four business segments: specialty finance payments corporate and discontinued operations. The specialty finance segment includes commercial mortgage loan sales small business administration loans leasing and security backed lines of credit and deposits generated by those business lines. The payments segment includes prepaid cards card payments automated clearing house (ACH) processing and healthcare accounts. The corporate segment includes the Company’s investment portfolio. Through the Bank the Company also provides banking services nationally which include private label banking institutional banking card payment and other payment processing and health savings accounts.

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