Insider Buying: Bancorp (NASDAQ:TBBK) Director Acquires $13,059.40 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 230 shares of Bancorp stock in a transaction dated Thursday, February 12th. The shares were purchased at an average cost of $56.78 per share, for a total transaction of $13,059.40. Following the completion of the transaction, the director owned 2,675 shares of the company’s stock, valued at approximately $151,886.50. This represents a 9.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Matthew Cohn also recently made the following trade(s):

• On Wednesday, February 11th, Matthew Cohn bought 170 shares of Bancorp stock. The stock was purchased at an average price of $56.99 per share, with a total value of $9,688.30.
• On Tuesday, February 10th, Matthew Cohn purchased 680 shares of Bancorp stock. The shares were purchased at an average cost of $62.14 per share, for a total transaction of $42,255.20.

Bancorp Stock Performance

Shares of TBBK stock opened at $58.57 on Friday. 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 company’s fifty day moving average price is $66.90 and its two-hundred day moving average price is $69.26. The firm has a market capitalization of $2.57 billion, a P/E ratio of 11.90 and a beta of 1.31. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $81.65.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The company had revenue of $132.21 million for the quarter, compared to analyst estimates of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 26.15%. On average, research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Institutional Trading of Bancorp

Several hedge funds have recently made changes to their positions in TBBK. Nisa Investment Advisors LLC grew its stake in Bancorp by 8.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock worth $157,000 after buying an additional 169 shares during the last quarter. Bessemer Group Inc. grew its position in Bancorp by 78.6% in the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares during the last quarter. Ethic Inc. increased its stake in shares of Bancorp by 4.5% in the second quarter. Ethic Inc. now owns 4,177 shares of the bank’s stock valued at $239,000 after purchasing an additional 178 shares during the period. Arete Wealth Advisors LLC raised its holdings in shares of Bancorp by 2.0% during the third quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank’s stock valued at $715,000 after buying an additional 191 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Bancorp by 3.7% during the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock worth $318,000 after buying an additional 197 shares during the period. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

TBBK has been the subject of several research analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Zacks Research lowered Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Bank of America set a $60.00 price objective on Bancorp in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research note 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.20.

Bancorp Company Profile

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.