The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction dated 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 in the company, valued at $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 at this hyperlink.
Bancorp Trading Up 3.2%
Shares of TBBK stock opened at $49.79 on Tuesday. The firm's 50 day moving average price is $51.36 and its two-hundred day moving average price is $57.94. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $73.02. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 8.44 and a beta of 1.20.
Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly 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 firm had revenue of $135.89 million during the quarter, compared to the consensus estimate of $154.86 million. Bancorp had a return on equity of 34.29% and a net margin of 30.13%. On average, analysts anticipate that The Bancorp, Inc. will post 5.99 EPS for the current year.
Hedge Funds Weigh In On Bancorp
A number of institutional investors have recently bought and sold shares of TBBK. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Bancorp in the third quarter valued at $26,000. Maryland State Retirement & Pension System boosted its stake in shares of Bancorp by 41.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 8,566 shares of the bank's stock valued at $413,000 after buying an additional 2,511 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Bancorp by 23.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 27,814 shares of the bank's stock valued at $1,340,000 after buying an additional 5,342 shares during the period. Lido Advisors LLC grew its holdings in shares of Bancorp by 17.5% during the 3rd quarter. Lido Advisors LLC now owns 12,585 shares of the bank's stock valued at $606,000 after acquiring an additional 1,870 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of 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 acquiring an additional 1,595 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TBBK. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $79.00 price target (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 price target on shares of Bancorp in a report on Tuesday, November 3rd. Bank of America restated a "buy" rating on shares of Bancorp in a research note on Monday, July 20th. Zacks Research downgraded Bancorp from a "hold" rating to a "strong sell" rating in a research report on Tuesday, November 3rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $62.00 target price (down from $75.00) on shares of Bancorp in a research report on Monday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.25.
Check Out Our Latest Stock Analysis on TBBK
About Bancorp
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
