Insider Buying: Bancorp (NASDAQ:TBBK) Director Acquires $45,540.00 in Stock

Key Points

• Director Matthew Cohn bought 1,000 Bancorp shares for $45,540 at an average price of $45.54, increasing his stake by 1.61% to 63,111 shares.
• Bancorp reported quarterly EPS of $1.47, matching estimates, but revenue of $135.89 million fell short of the $154.86 million consensus.
• Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $63.88; shares traded at $47.34 in the article.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) Director Matthew Cohn purchased 1,000 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The stock was bought at an average price of $45.54 per share, for a total transaction of $45,540.00. Following the acquisition, the director owned 63,111 shares of the company's stock, valued at $2,874,074.94. This represents a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Bancorp Stock Up 1.5%

TBBK traded up $0.69 on Wednesday, hitting $47.34. The company had a trading volume of 850,319 shares, compared to its average volume of 521,486. The stock has a fifty day simple moving average of $52.80 and a 200-day simple moving average of $58.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $1.93 billion, a P/E ratio of 8.35 and a beta of 1.20. 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 posted its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 EPS for the quarter, hitting the consensus estimate of $1.47. The business had revenue of $135.89 million for the quarter, compared to analyst estimates of $154.86 million. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. As a group, equities analysts expect that The Bancorp, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TBBK has been the topic of several analyst reports. DA Davidson set a $64.00 target price on Bancorp in a research report on Tuesday, October 20th. Weiss Ratings upgraded shares of Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Bancorp in a report on Tuesday, October 20th. Bank of America reaffirmed a "buy" rating on shares of Bancorp in a report on Monday, July 20th. Finally, Stephens reiterated an "equal weight" rating and set a $59.00 price objective on shares of Bancorp in a research report on Wednesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.88.

Institutional Investors Weigh In On Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its position in shares of Bancorp by 4,089.7% in the third quarter. Parallel Advisors LLC now owns 1,634 shares of the bank's stock valued at $79,000 after buying an additional 1,595 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Bancorp by 6.4% during the 3rd quarter. Hennessy Advisors Inc. now owns 50,000 shares of the bank's stock worth $2,408,000 after purchasing an additional 3,000 shares during the last quarter. State of Wyoming increased its stake in shares of Bancorp by 54.0% in the 3rd quarter. State of Wyoming now owns 4,297 shares of the bank's stock worth $207,000 after acquiring an additional 1,507 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Bancorp during the third quarter worth about $203,000. Finally, Sterling Capital Management LLC grew its position in Bancorp by 840.4% in the third quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank's stock worth $64,000 after acquiring an additional 1,185 shares during the period. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Company Profile

The Bancorp, Inc NASDAQ: TBBK is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company's services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.