Key Points
- Director Matthew Cohn bought 1,000 Bancorp shares for $45,540, increasing his direct holdings by 1.61% to 63,111 shares.
- Bancorp matched quarterly EPS expectations at $1.47, but revenue of $135.89 million came in below analysts’ $154.86 million estimate.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $63.88; ratings include five Buys, two Holds, and one Sell.
The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) Director Matthew Cohn purchased 1,000 shares of the business's stock in a transaction dated Tuesday, November 3rd. The shares were purchased at an average price of $45.54 per share, for a total transaction of $45,540.00. Following the acquisition, the director directly owned 63,111 shares of the company's stock, valued at $2,874,074.94. This trade represents a 1.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Bancorp Trading Up 1.5%
Bancorp stock opened at $47.34 on Thursday. The company has a 50 day moving average price of $52.41 and a 200 day moving average price of $58.24. The Bancorp, Inc. has a 52 week low of $45.08 and a 52 week high of $73.02. 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 firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.35 and a beta of 1.20.
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. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. The firm had revenue of $135.89 million for the quarter, compared to analysts' expectations of $154.86 million. Research analysts forecast that The Bancorp, Inc. will post 5.99 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Bank of America reiterated a "buy" rating on shares of Bancorp in a report on Monday, July 20th. Zacks Research downgraded Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Stephens restated an "equal weight" rating and set a $59.00 price objective on shares of Bancorp in a research report on Wednesday, October 21st. DA Davidson set a $64.00 price objective on Bancorp in a research report on Tuesday, October 20th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $75.00 target price (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 issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.88.
Read Our Latest Analysis on TBBK
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of TBBK. Integrated Wealth Concepts LLC bought a new position in shares of Bancorp in the second quarter worth about $25,000. Versant Capital Management Inc lifted its position in shares of Bancorp by 177.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,198 shares of the bank's stock worth $58,000 after purchasing an additional 766 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Bancorp by 840.4% during the 3rd quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank's stock valued at $64,000 after purchasing an additional 1,185 shares during the period. Parallel Advisors LLC boosted its stake in Bancorp by 4,089.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank's stock valued at $79,000 after purchasing an additional 1,595 shares during the period. Finally, Nykredit A S acquired a new stake in Bancorp in the 2nd quarter valued at approximately $167,000. Institutional investors own 96.22% of the company's stock.
About Bancorp
(
Get Free Report)
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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