The Bancorp, Inc. (NASDAQ:TBBK – Get Free Report) Director Stephanie Mudick acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were acquired at an average cost of $47.49 per share, for a total transaction of $47,490.00. Following the completion of the transaction, the director directly owned 45,150 shares of the company’s stock, valued at $2,144,173.50. The trade was a 2.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.
Bancorp Price Performance
NASDAQ TBBK opened at $48.25 on Friday. The Bancorp, Inc. has a one year low of $45.08 and a one year high of $73.02. The stock has a 50-day moving average of $51.68 and a 200 day moving average of $58.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.51 and a beta of 1.20.
Bancorp (NASDAQ:TBBK – Get Free Report) last posted its earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.47. The business had revenue of $135.89 million for the quarter, compared to analysts’ expectations of $154.86 million. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. On average, sell-side analysts forecast that The Bancorp, Inc. will post 5.99 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on TBBK shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $79.00 target price (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Bancorp in a research report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 target price on shares of Bancorp in a research note on Tuesday, October 20th. DA Davidson set a $64.00 price target on Bancorp in a report on Tuesday, October 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $75.00 price target (down from $86.00) on shares of Bancorp in a research note on Thursday, September 17th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.88.
View Our Latest Research Report on TBBK
Institutional Investors Weigh In On Bancorp
Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in Bancorp by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock worth $368,000 after buying an additional 267 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Bancorp in the second quarter valued at about $25,000. Allspring Global Investments Holdings LLC raised its stake in Bancorp by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,519 shares of the bank’s stock valued at $248,000 after buying an additional 458 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Bancorp in the third quarter valued at about $26,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Bancorp by 11.8% in the first quarter. Pictet Asset Management Holding SA now owns 6,985 shares of the bank’s stock worth $375,000 after acquiring an additional 739 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.
Bancorp Company Profile
The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.
The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.
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