Bancorp (NASDAQ:TBBK) Issues Quarterly Earnings Results, Meets Expectations

Bancorp (NASDAQ:TBBK) posted its earnings results on Friday. The bank reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06, Yahoo Finance reports. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter last year, the firm earned $0.88 EPS.

Bancorp Stock Up 1.0 %

Shares of TBBK stock traded up $0.31 on Monday, hitting $31.11. 1,461,757 shares of the stock were exchanged, compared to its average volume of 654,567. The business has a 50-day moving average of $36.02 and a 200 day moving average of $37.99. Bancorp has a fifty-two week low of $28.04 and a fifty-two week high of $47.11. The firm has a market capitalization of $1.63 billion, a P/E ratio of 8.37 and a beta of 1.45. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several recent analyst reports. Raymond James lifted their price objective on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 5th.

Insider Activity at Bancorp

In other Bancorp news, Director Daniela Mielke acquired 3,315 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $45.13 per share, with a total value of $149,605.95. Following the completion of the transaction, the director now directly owns 26,715 shares in the company, valued at approximately $1,205,647.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Matthew Cohn bought 2,485 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the purchase, the director now owns 157,627 shares in the company, valued at $5,392,419.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniela Mielke purchased 3,315 shares of Bancorp stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $45.13 per share, with a total value of $149,605.95. Following the completion of the purchase, the director now directly owns 26,715 shares in the company, valued at $1,205,647.95. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 7,800 shares of company stock valued at $308,838. 5.20% of the stock is owned by insiders.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.