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UPDATE: BTIG Initiates The Bancorp at Buy on Prepaid Growth

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BTIG initiated The Bancorp (NASDAQ: TBBK) with a Buy rating and a $17.00 price target.

BTIG noted, "We are initiating coverage of The Bancorp with a BUY recommendation and a price target of $17 based on 13x our 2014E adjusted EPS of $1.30. We believe TBBK is very well positioned to benefit from the growth in the prepaid debit card industry, as reflected in the 93% increase in the gross dollar volume (GDV) in prepaid business it processed in 2012, and that a robust pipeline of new business could enable it to more than double its GDV over the next two years."

The Bancorp closed at $12.87 on Friday.

Latest Ratings for TBBK

DateFirmActionFromTo
Jul 2017UpgradesMarket PerformOutperform
May 2017UpgradesNeutralBuy
Feb 2017DowngradesStrong BuyMarket Perform

View More Analyst Ratings for TBBK
View the Latest Analyst Ratings

Posted-In: btigAnalyst Color Initiation Analyst Ratings

 

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Latest Ratings

StockFirmActionPT
ELMDDougherty & Co.Initiates Coverage On12.0
MRNSCantor FitzgeraldAssumes7.0
MNRLCapital One FinancialInitiates Coverage On23.0
SONVertical GroupUpgrades
UNPMorgan StanleyMaintains136.0
View the Latest Analytics Ratings
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