The Bancorp, Inc. (NASDAQ:TBBK – Get Free Report) EVP Ryan Harris sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $48.27, for a total value of $217,215.00. Following the completion of the transaction, the executive vice president directly owned 146,016 shares of the company’s stock, valued at approximately $7,048,192.32. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Bancorp Stock Performance
Shares of Bancorp stock opened at $48.67 on Wednesday. The business’s fifty day simple moving average is $51.03 and its 200 day simple moving average is $57.83. The firm has a market capitalization of $1.94 billion, a P/E ratio of 8.88 and a beta of 1.20. The Bancorp, Inc. has a 12 month low of $45.08 and a 12 month high of $73.02. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.
Bancorp (NASDAQ:TBBK – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 earnings per share for the quarter, hitting 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 return on equity of 34.29% and a net margin of 28.50%. As a group, analysts anticipate that The Bancorp, Inc. will post 5.97 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Stephens restated an “equal weight” rating and set a $59.00 price objective on shares of Bancorp in a report on Wednesday, October 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research report on Tuesday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 target price on shares of Bancorp in a research note on Tuesday, October 20th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $79.00 target price (up from $77.00) on shares of Bancorp in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $62.25.
Get Our Latest Stock Report on TBBK
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in Bancorp by 4.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock valued at $368,000 after acquiring an additional 267 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Bancorp during the second quarter valued at about $25,000. Allspring Global Investments Holdings LLC boosted its position in Bancorp by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,519 shares of the bank’s stock worth $248,000 after purchasing an additional 458 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Bancorp during the third quarter worth about $26,000. Finally, Pictet Asset Management Holding SA boosted its position in Bancorp by 11.8% during the first quarter. Pictet Asset Management Holding SA now owns 6,985 shares of the bank’s stock worth $375,000 after purchasing an additional 739 shares during the period. Institutional investors own 96.22% of the company’s stock.
About Bancorp
The Bancorp, Inc. is a financial holding company based in Wilmington, Delaware. Through its subsidiary, The Bancorp Bank, National Association, it provides banking and financial services primarily to businesses and other organizations rather than operating a traditional branch-focused consumer bank. The company’s services include payment and card programs, such as prepaid and debit card solutions, along with payment processing and banking services for fintech companies and other partners. Its lending activities include specialty financing for businesses and individuals.
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