Bancorp ( (TBBK) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Bancorp’s stock took a hit after Keefe Bruyette downgraded its rating from Outperform to Market Perform, citing the stock’s recent strong performance which has already captured much of its potential gains. The downgrade is also due to concerns about credit migration risks in Bancorp’s commercial real estate bridge loan portfolio, with $1.4 billion in loans maturing soon. Consequently, the price target was reduced from $70 to $65, reflecting the volatile earnings outlook and limited stock movement expected during this transitional period.
More about Bancorp
YTD Price Performance: 3.95%
Average Trading Volume: 557,709
Technical Sentiment Signal: Strong Buy
Current Market Cap: $2.54B
For further insights into TBBK stock on TipRanks’ Stock Analysis page.
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