Bancorp (NASDAQ:TBBK) EVP Ryan Harris Sells 4,500 Shares of Stock

Key Points

• EVP Ryan Harris sold 4,500 Bancorp shares at an average price of $48.27, totaling $217,215. He retained 146,016 shares after the sale.
• Bancorp reported quarterly EPS of $1.47, matching analysts’ estimates, but revenue of $135.89 million fell short of the $154.86 million consensus.
• Analysts’ consensus rating was Moderate Buy, with a $62.25 average price target; views ranged from Buy to Sell.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $48.27, for a total transaction of $217,215.00. Following the completion of the sale, the executive vice president directly owned 146,016 shares of the company's stock, valued at approximately $7,048,192.32. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Bancorp Stock Performance

TBBK traded up $1.54 during mid-day trading on Monday, reaching $49.79. 611,744 shares of the company traded hands, compared to its average volume of 522,124. The company's fifty day moving average price is $51.68 and its 200-day moving average price is $58.04. The stock has a market capitalization of $2.03 billion, a P/E ratio of 8.78 and a beta of 1.20. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 52-week low of $45.08 and a 52-week high of $73.02.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.47. The firm had revenue of $135.89 million for the quarter, compared to the consensus estimate of $154.86 million. Bancorp had a return on equity of 34.29% and a net margin of 28.50%. On average, sell-side analysts expect that The Bancorp, Inc. will post 5.99 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TBBK. Integrated Wealth Concepts LLC bought a new stake in Bancorp during the 2nd quarter worth approximately $25,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Bancorp in the third quarter worth $26,000. Versant Capital Management Inc raised its position in shares of Bancorp by 177.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,198 shares of the bank's stock valued at $58,000 after purchasing an additional 766 shares during the period. Sterling Capital Management LLC raised its position in shares of Bancorp by 840.4% during the 3rd quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank's stock valued at $64,000 after purchasing an additional 1,185 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Bancorp by 4,089.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank's stock valued at $79,000 after purchasing an additional 1,595 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TBBK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated an "outperform" rating and set a $79.00 price target (up from $77.00) on shares of Bancorp in a research note on Monday, August 3rd. Zacks Research cut shares of Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, November 3rd. Stephens reissued an "equal weight" rating and issued a $59.00 price objective on shares of Bancorp in a report on Wednesday, October 21st. Piper Sandler restated an "overweight" rating and set a $62.00 target price (down from $75.00) on shares of Bancorp in a research report on Monday. Finally, Bank of America reaffirmed a "buy" rating on shares of Bancorp in a report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.25.

About Bancorp

The Bancorp, Inc is a financial holding company based in Wilmington, Delaware. Through its subsidiary, The Bancorp Bank, National Association, it provides banking and financial services primarily to businesses and other organizations rather than operating a traditional branch-focused consumer bank.

The company's services include payment and card programs, such as prepaid and debit card solutions, along with payment processing and banking services for fintech companies and other partners.

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