The Bancorp price target raised to $60 from $55 at Piper Sandler

Piper Sandler raised the firm’s price target on The Bancorp to $60 from $55 and keeps an Overweight rating on the shares. The firm notes The Bancorp reported $1.05 in Q2 EPS, and increased full year guide to $4.35, ex-second half of 2024 buybacks. PPNR results came in below Piper’s expectations on both net interest income and expenses partially offset by a lower provision. The firm continues to see significant value in shares longer term, while admitting that the risk/reward scale has been tipped to a bit more even balance in the near-term.