Insider Buying: The Bancorp, Inc. (NASDAQ:TBBK) Director Buys 1,350 Shares of Stock

Key Points

• Matthew Cohn, a director at The Bancorp, Inc., purchased 1,350 shares of the company’s stock at an average price of $64.80, totaling $87,480.
• The Bancorp's quarterly earnings exceeded expectations with an EPS of $1.27, surpassing the consensus estimate of $1.26.
• Institutional investors currently own 96.22% of The Bancorp's stock, indicating strong investor confidence in the bank.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) Director Matthew Cohn purchased 1,350 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $64.80 per share, with a total value of $87,480.00. Following the acquisition, the director owned 1,350 shares in the company, valued at $87,480. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Bancorp Trading Up 0.3%

NASDAQ TBBK traded up $0.17 on Thursday, hitting $63.16. The company's stock had a trading volume of 777,351 shares, compared to its average volume of 584,954. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $70.63. The company's 50-day moving average is $57.35 and its 200 day moving average is $54.56. The firm has a market cap of $2.95 billion, a PE ratio of 13.58 and a beta of 1.25.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. Bancorp had a net margin of 32.85% and a return on equity of 27.24%. The firm had revenue of $138.00 million during the quarter, compared to analysts' expectations of $94.87 million. As a group, analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Bancorp during the first quarter worth $39,000. Brooklyn Investment Group acquired a new stake in shares of Bancorp during the first quarter worth $58,000. GAMMA Investing LLC increased its position in shares of Bancorp by 45.2% during the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock worth $77,000 after buying an additional 456 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Bancorp during the fourth quarter worth $139,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Bancorp during the second quarter worth $170,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TBBK. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Morgan Stanley reiterated an "overweight" rating and set a $52.00 price objective on shares of Bancorp in a research report on Friday, July 18th. Jefferies Financial Group upgraded shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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.

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