Bancorp (NASDAQ:TBBK) Shares Down 1.8%

The Bancorp, Inc. (NASDAQ:TBBK) was down 1.8% during mid-day trading on Wednesday . The company traded as low as $37.79 and last traded at $37.89. Approximately 73,205 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 610,124 shares. The stock had previously closed at $38.57.

Analyst Ratings Changes

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

Bancorp Stock Down 1.9 %

The firm has a market capitalization of $1.98 billion, a PE ratio of 10.28 and a beta of 1.47. The business’s 50 day simple moving average is $33.56 and its 200 day simple moving average is $36.69. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Friday, April 26th. The bank reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. The business had revenue of $123.80 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same period last year, the company posted $0.88 EPS. On average, equities research analysts forecast that The Bancorp, Inc. will post 4.51 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Cheryl Creuzot sold 766 shares of Bancorp stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the completion of the transaction, the director now directly owns 7,638 shares of the company’s stock, valued at approximately $249,304.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Hersh Kozlov purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $32.53 per share, with a total value of $32,530.00. Following the purchase, the director now owns 111,264 shares in the company, valued at $3,619,417.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the completion of the sale, the director now directly owns 7,638 shares of the company’s stock, valued at $249,304.32. The disclosure for this sale can be found here. In the last ninety days, insiders bought 1,706 shares of company stock valued at $54,962. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Several large investors have recently added to or reduced their stakes in TBBK. Invesco Ltd. boosted its position in Bancorp by 24.0% in the 3rd quarter. Invesco Ltd. now owns 219,127 shares of the bank’s stock valued at $7,560,000 after buying an additional 42,346 shares during the period. Qube Research & Technologies Ltd boosted its position in Bancorp by 5.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 55,110 shares of the bank’s stock valued at $1,901,000 after buying an additional 2,795 shares during the period. GSA Capital Partners LLP purchased a new stake in Bancorp in the 3rd quarter valued at about $1,272,000. American Century Companies Inc. boosted its position in Bancorp by 21.9% in the 3rd quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after buying an additional 175,854 shares during the period. Finally, First Hawaiian Bank boosted its position in Bancorp by 45.9% in the 4th quarter. First Hawaiian Bank now owns 14,819 shares of the bank’s stock valued at $571,000 after buying an additional 4,664 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Company Profile

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.