The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) EVP Erika Caesar sold 4,470 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares in the company, valued at $1,982,006.40. This represents a 11.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Bancorp Trading Down 0.3%
NASDAQ:TBBK opened at $59.83 on Friday. The stock's 50 day moving average price is $56.00 and its 200 day moving average price is $63.10. The company has a market capitalization of $2.50 billion, a PE ratio of 11.64 and a beta of 1.28. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 52-week low of $48.28 and a 52-week high of $81.65.
Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $132.50 million for the quarter, compared to the consensus estimate of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 31.71%. On average, research analysts anticipate that The Bancorp, Inc. will post 5.95 EPS for the current year.
Institutional Trading of Bancorp
Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of Bancorp by 4.8% in the 3rd quarter. Invesco Ltd. now owns 2,781,772 shares of the bank's stock valued at $208,327,000 after buying an additional 126,302 shares during the period. Nantahala Capital Management LLC boosted its stake in shares of Bancorp by 25.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank's stock valued at $72,360,000 after buying an additional 219,351 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Bancorp by 8.5% in the fourth quarter. Brown Advisory Inc. now owns 905,876 shares of the bank's stock valued at $61,165,000 after buying an additional 71,299 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Bancorp by 273.2% in the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank's stock valued at $46,574,000 after buying an additional 455,265 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Bancorp by 43.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank's stock valued at $34,279,000 after buying an additional 154,539 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
TBBK has been the subject of a number of recent research reports. Bank of America set a $60.00 price objective on Bancorp in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Bancorp in a research report on Friday, March 27th. Piper Sandler initiated coverage on Bancorp in a research report on Thursday, March 12th. They set an "overweight" rating and a $66.00 price objective for the company. Wall Street Zen raised Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Bancorp in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.50.
Read Our Latest Stock Analysis 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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