Key Points
- EVP Ryan Harris sold 4,500 shares of The Bancorp on March 13 at an average price of $53.18 for $239,310, reducing his ownership by 2.9% to 150,516 shares (≈$8.00M); the sale was disclosed in an SEC filing.
- Stock and analyst context: TBBK traded around $53.09 with a $2.24B market cap and 10.79 P/E; the bank missed quarterly EPS estimates ($1.28 vs. $1.46) but beat revenue, and analysts' consensus is a "Moderate Buy" with a $59.50 target.
The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $53.18, for a total value of $239,310.00. Following the completion of the sale, the executive vice president owned 150,516 shares of the company's stock, valued at $8,004,440.88. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Bancorp Stock Down 0.9%
NASDAQ:TBBK opened at $53.09 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $81.65. The company has a 50-day moving average of $61.26 and a 200 day moving average of $67.48. The firm has a market cap of $2.24 billion, a PE ratio of 10.79 and a beta of 1.31.
Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.18). Bancorp had a net margin of 25.94% and a return on equity of 28.91%. The business had revenue of $132.21 million for the quarter, compared to analysts' expectations of $101.10 million. As a group, research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.
Institutional Investors Weigh In On Bancorp
Several institutional investors have recently bought and sold shares of TBBK. Nisa Investment Advisors LLC grew its holdings in Bancorp by 8.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank's stock worth $157,000 after purchasing an additional 169 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank's stock valued at $30,000 after purchasing an additional 176 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Bancorp by 2.0% in the 3rd quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank's stock worth $715,000 after purchasing an additional 191 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Bancorp by 3.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank's stock worth $318,000 after purchasing an additional 197 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank's stock worth $26,000 after buying an additional 235 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on TBBK. Piper Sandler initiated coverage on shares of Bancorp in a research note on Thursday, March 12th. They issued an "overweight" rating and a $66.00 price objective for the company. Bank of America set a $60.00 price target on Bancorp in a report on Wednesday, January 21st. Royal Bank Of Canada reissued an "outperform" rating and issued a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Zacks Research cut Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $59.50.
View Our Latest Research Report on Bancorp
About Bancorp
(
Get Free Report)
The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.
The company's product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.
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