Market Overview

UPDATE: Sterne Agee Upgrades The Bancorp to Buy on Prepaid Pipeline, Growth Outlook

Related TBBK
Mid-Afternoon Market Update: Cowen Group Surges After Q1 Results; FuelCell Energy Shares Drop
20 Biggest Mid-Day Gainers For Friday

Sterne Agee upgraded The Bancorp (NASDAQ: TBBK) from Neutral to Buy and announced a $15.00 price target.

Sterne Agee noted, "Our upgrade is based on three new items: 1) a big pipeline of potential new prepaid business. This is in addition to the core $27 billion GDV book at YE 2012 which is expected to grow 35%+; 2) the company has entered the commercial real estate (CRE) originate/sell business; and 3) given strong revenue and EPS growth outlook, we believe the shares deserve a better forward P/E multiple."

The Bancorp closed at $12.72 on Friday.

Latest Ratings for TBBK

Jul 2017Raymond JamesUpgradesMarket PerformOutperform
May 2017BTIG ResearchUpgradesNeutralBuy
Feb 2017Raymond JamesDowngradesStrong BuyMarket Perform

View More Analyst Ratings for TBBK
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Analyst Ratings


Related Articles (TBBK)

View Comments and Join the Discussion!