Insider Selling: The Bancorp, Inc. (NASDAQ:TBBK) CMO Sells 11,357 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Bancorp Stock Down 0.3 %

Bancorp stock opened at $50.26 on Friday. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.26. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 12.69 and a beta of 1.45. The company’s 50-day moving average price is $52.25 and its two-hundred day moving average price is $43.31. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.92 EPS. On average, analysts expect that The Bancorp, Inc. will post 4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TBBK. Entropy Technologies LP lifted its holdings in Bancorp by 256.2% in the 1st quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock valued at $782,000 after acquiring an additional 16,812 shares during the last quarter. Jane Street Group LLC lifted its stake in Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Bancorp during the first quarter worth approximately $1,008,000. BNP Paribas Financial Markets grew its position in Bancorp by 51.6% in the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock worth $2,404,000 after buying an additional 24,453 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Bancorp by 71.1% in the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after buying an additional 164,855 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

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

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.