Erika Caesar Sells 4,470 Shares of Bancorp (NASDAQ:TBBK) Stock

Key Points

• Erika Caesar sold 4,470 shares of The Bancorp on April 29 at an average price of $60.28 for about $269,452, leaving her with 32,880 shares (an 11.97% reduction in her position).
• Quarterly results showed EPS of $1.41 (beating the $1.34 estimate) but revenue missed at $132.5M versus $189.17M expected, while the bank reported a 30.56% ROE and a 31.71% net margin.
• The stock trades near $59.83 with a market cap of ~$2.5B, an average analyst rating of "Moderate Buy" and a consensus price target of $59.50, and institutional investors hold about 96.22% of shares with several large funds recently increasing stakes.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) EVP Erika Caesar sold 4,470 shares of the firm's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the completion of the transaction, the executive vice president owned 32,880 shares of the company's stock, valued at approximately $1,982,006.40. This represents a 11.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bancorp Price Performance

NASDAQ TBBK traded down $0.20 during trading hours on Thursday, hitting $59.83. The company had a trading volume of 534,848 shares, compared to its average volume of 584,575. The firm has a 50 day simple moving average of $55.96 and a 200 day simple moving average of $63.12. The Bancorp, Inc. has a 52 week low of $48.28 and a 52 week high of $81.65. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 11.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The company had revenue of $132.50 million for the quarter, compared to analysts' expectations of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 31.71%. Equities research analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TBBK shares. Wall Street Zen upgraded Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Bancorp in a research report on Friday, March 27th. Raymond James Financial restated a "strong-buy" rating on shares of Bancorp in a research report on Tuesday, January 13th. Royal Bank Of Canada restated an "outperform" rating and set a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. Finally, Wolfe Research set a $57.00 target price on Bancorp in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.50.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in Bancorp by 4.8% during the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank's stock valued at $208,327,000 after buying an additional 126,302 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Bancorp by 25.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank's stock worth $72,360,000 after purchasing an additional 219,351 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Bancorp by 8.5% in the 4th quarter. Brown Advisory Inc. now owns 905,876 shares of the bank's stock worth $61,165,000 after purchasing an additional 71,299 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Bancorp by 273.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank's stock worth $46,574,000 after acquiring an additional 455,265 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Bancorp by 43.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank's stock worth $34,279,000 after acquiring an additional 154,539 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

Bancorp Company Profile

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.

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