The stock of The Bancorp, Inc. (NASDAQ:TBBK) is now priced at $9.17 and the shares are -0.63 points down or -6.43% lower compared to its previous closing price of $9.8. The stock had 362218 contracts set over the past session. TBBK shares’ daily volume is compared to its average trading volume at 422836 shares. However, it has a float of 50.82 million and although its performance was 4.56% over the week, it’s one to watch. Analysts have given the TBBK stock a yearly average price target of $11.5 per share. It means the stock’s upside potential is 25.41% with the TBBK share price recently placing at $9.14 to $9.83.
The shorts are running away from the The Bancorp, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the TBBK shares have declined. Short interest in the stock represents just 1.79% of its float, but the volume has dropped by -44991. The volume of shorted shares dropped to 910447 from 955438 shares over the last two weeks. The average intraday trading volume has been 0.466 million shares, which means that days to cover moved to roughly 1.955843.
In the last trading session, The Bancorp, Inc. (NASDAQ:TBBK) raised by $0.4 over the week and gained $0.21 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.73. The stock recorded its established 52-week high on 12/19/19.
Since 03/19/20, the stock has traded to a low of $3.36 at 172.92%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.6. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Bancorp, Inc.’s two-week RSI is 51.49. This suggests that the stock is neutral at the moment and that TBBK shares’ price movement remains stable. The stochastic readings are equally revealing at 61.79% meaning the TBBK share price is currently in neutral territory.
The technical chart shows that the TBBK stock will likely settle at between $9.63 and $10.08 per share. However, if the stock dips below $8.87, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.56.
Currently, the stock is trading in the green of MACD, with a reading of 0.18. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Sandler O’Neill raised their recommendation for TBBK from Hold to Buy in December 03 review. Raymond James analysts upgraded their recommendation of the stock from Outperform to Strong Buy in a flash note released to investors on January 26. Raymond James seeing the improvements upgraded the stock from Mkt Perform to Outperform on July 31.
The average rating for the TBBK equity is 1.5 and is currently gathering a bullish momentum. Of 2 analysts tracking The Bancorp, Inc. polled by Reuters, 0 rated TBBK as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the TBBK stock price is 6.72X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 12.1 above the group’s average of 10.6. The Bancorp, Inc. has its P/E ratio at 1.1, which means that the stock is currently trading at a premium relative to the 0.9 industry average.