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

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