Insider Buying: Bancorp (NASDAQ:TBBK) Director Buys $47,490.00 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Stephanie Mudick acquired 1,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was bought at an average price of $47.49 per share, for a total transaction of $47,490.00. Following the purchase, the director owned 45,150 shares of the company’s stock, valued at $2,144,173.50. The trade was a 2.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Bancorp Stock Performance

Shares of TBBK stock opened at $48.25 on Monday. The firm has a market capitalization of $1.93 billion, a P/E ratio of 8.51 and a beta of 1.20. The Bancorp, Inc. has a 1 year low of $45.08 and a 1 year high of $73.02. The firm’s fifty day simple moving average is $51.68 and its 200 day simple moving average is $58.04. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share for the quarter, meeting analysts’ consensus estimates 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 net margin of 28.50% and a return on equity of 34.29%. As a group, sell-side analysts predict that The Bancorp, Inc. will post 5.99 EPS for the current year.

Institutional Trading of Bancorp

Several institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its stake in Bancorp by 19.0% during the first quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock worth $58,296,000 after buying an additional 172,925 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Bancorp by 104.5% during the first quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock worth $22,922,000 after buying an additional 218,038 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Bancorp by 8.3% during the first quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock worth $18,955,000 after buying an additional 27,058 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Bancorp by 21.3% during the third quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock worth $16,740,000 after buying an additional 61,054 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Bancorp in the first quarter valued at approximately $15,063,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TBBK shares. Piper Sandler reiterated an “overweight” rating and issued a $75.00 target price (down from $86.00) on shares of Bancorp in a research note on Thursday, September 17th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $79.00 price target (up from $77.00) on shares of Bancorp in a research note on Monday, August 3rd. Stephens restated an “equal weight” rating and set a $59.00 price target on shares of Bancorp in a research note on Wednesday, October 21st. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 3rd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.88.

About Bancorp

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.