Bancorp (NASDAQ:TBBK) Shares Up 3.2%

The Bancorp, Inc. (NASDAQ:TBBK) shot up 3.2% during trading on Tuesday . The company traded as high as $39.11 and last traded at $39.11. 18,362 shares were traded during mid-day trading, a decline of 97% from the average session volume of 609,701 shares. The stock had previously closed at $37.90.

Analysts Set New Price Targets

A number of brokerages have commented on TBBK. Piper Sandler restated an “overweight” rating and issued a $55.00 target price on shares of Bancorp in a research note on Tuesday. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods reduced their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 5th.

Bancorp Stock Down 1.9 %

The business has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $36.69. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.28 and a beta of 1.47. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. The company had revenue of $123.80 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. As a group, equities analysts forecast that The Bancorp, Inc. will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the transaction, the executive vice president now owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bancorp news, Director Cheryl Creuzot sold 766 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the completion of the transaction, the director now owns 7,638 shares of the company’s stock, valued at approximately $249,304.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jennifer F. Terry sold 11,256 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,706 shares of company stock valued at $54,962. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after acquiring an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 period. Quest Partners LLC bought a new stake in shares of Bancorp in the 4th quarter valued at approximately $115,000. Summit Asset Management LLC bought a new stake in shares of Bancorp in the 4th quarter valued at approximately $202,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Bancorp in the 1st quarter valued at approximately $221,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

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.