Piper Sandler reiterates 'overweight' rating on Bancorp after recent decline

Bancorp

19/03/2025 18:28

** Piper Sandler says it is a "good time to reiterate one of its favorite bank stock ideas" after the recent pullback

** Community bank Bancorp's shares TBBK.O climb 5% to $55.19

** Brokerage has "overweight" rating on TBBK with a $68 PT, a 29.3% upside to stock's last close

** Says there has been recent noise around the stock after retraction of its annual report, but TBBK's profitability far outstrips the average banking institution

** TBBK has fallen 9% in the last one month

** Piper Sandler expects near-term positive newsflow with the successful sale of the bank's largest OREO property to drive shares higher

** Other real estate owned (OREO) properties are those that banks own due to foreclosure or other legal processes

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))