Matthew J. Wallace Sells 10,160 Shares of The Bancorp, Inc. (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the sale, the executive vice president now directly owns 74,798 shares in the company, valued at $3,744,387.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $50.26 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The business has a 50-day moving average of $52.25 and a 200-day moving average of $43.31. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.69 and a beta of 1.45. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $59.26.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 39.22% and a return on equity of 26.63%. The company had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period last year, the company posted $0.92 earnings per share. As a group, sell-side analysts predict that The Bancorp, Inc. will post 4.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after acquiring an additional 291 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares during the last quarter. US Bancorp DE bought a new position in Bancorp during the third quarter worth about $83,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Bancorp in the second quarter valued at approximately $216,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on TBBK shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Piper Sandler boosted their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.