Why The Bancorp Stock Surged Today
The innovative fintech benefited from an analyst's recommendation upgrade.
Overview
One of the more popular, albeit under-the-radar, finance sector stocks became even more valuable on Thursday. The Bancorp's (NASDAQ: TBBK) share price rose by nearly 8% that trading session, thanks largely to a recommendation upgrade from an analyst.
The Bancorp, an innovative fintech that provides back-end banking services for companies that wish to offer them but lack their own bank charters, was upgraded by Keefe, Bruyette & Woods. That firm's analyst, Timothy Switzer, now rates the company an outperform (buy, in other words), up from his previous tag of market perform (hold).
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.