Insider Buying: Bancorp (NASDAQ:TBBK) Director Buys 680 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average price of $62.14 per share, with a total value of $42,255.20. Following the transaction, the director directly owned 3,655 shares in the company, valued at $227,121.70. This trade represents a 22.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 12th, Matthew Cohn bought 230 shares of Bancorp stock. The stock was acquired at an average price of $56.78 per share, with a total value of $13,059.40.
• On Wednesday, February 11th, Matthew Cohn purchased 170 shares of Bancorp stock. The shares were bought at an average cost of $56.99 per share, for a total transaction of $9,688.30.

Bancorp Trading Down 2.1%

TBBK stock traded down $1.19 during midday trading on Thursday, reaching $55.85. The stock had a trading volume of 652,359 shares, compared to its average volume of 734,019. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 11.35 and a beta of 1.31. The business has a fifty day simple moving average of $67.24 and a two-hundred day simple moving average of $69.36. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month high of $81.65.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) 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 the consensus estimate of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 26.15%. As a group, research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. 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 during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Bancorp by 148.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock worth $27,227,000 after purchasing an additional 241,058 shares in the last quarter. Penn Capital Management Company LLC bought a new position in shares of Bancorp in the third quarter worth $13,422,000. Epoch Investment Partners Inc. increased its position in shares of Bancorp by 306.6% in the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock worth $15,672,000 after purchasing an additional 157,796 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in 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 purchasing an additional 154,539 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TBBK has been the subject of a number of recent analyst reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Bank of America set a $60.00 target price on shares of Bancorp in a report on Wednesday, January 21st. Piper Sandler reissued an “overweight” rating on shares of Bancorp in a report on Monday. Zacks Research downgraded shares of Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Finally, Wolfe Research set a $57.00 price objective on Bancorp in a report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.20.

About Bancorp

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.