Raymond James upgraded The Bancorp (TBBK) to Strong Buy from Outperform with a price target of $76, up from $71, after meeting with management. The company’s strategy to gain a greater share of wallet from its fintech partners will ultimately improve its “already best-in-class” profitability profile, the analyst tells investors in a research note. The firm also sees The Bancorp’s balance sheet de-risking as it remixes its loan portfolio toward more credit sponsorship fintech loans.
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