Insider Selling: Bancorp (NASDAQ:TBBK) CMO Sells 8,400 Shares of Stock

Key Points

• CMO Maria Wainwright sold 8,400 shares on April 28 at an average price of $60.24 for about $506,016, reducing her direct holdings to 24,942 shares (a 25.19% drop), per an SEC filing.
• Bancorp beat Q1 EPS estimates ($1.41 vs. $1.34) but missed on revenue ($132.5M vs. $189.17M); the stock trades near $59.83 with a market cap of roughly $2.5B and a consensus analyst rating of “Moderate Buy” (average target $59.50).

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the transaction, the chief marketing officer directly owned 24,942 shares of the company's stock, valued at $1,502,506.08. This represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bancorp Price Performance

Bancorp stock traded down $0.20 during midday trading on Thursday, reaching $59.83. The company's stock had a trading volume of 534,848 shares, compared to its average volume of 584,575. The stock has a market cap of $2.50 billion, a PE ratio of 11.64 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 52 week low of $48.28 and a 52 week high of $81.65. The business has a 50-day moving average price of $55.96 and a 200-day moving average price of $63.12.

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

Analyst Upgrades and Downgrades

TBBK has been the subject of several research analyst reports. Zacks Research upgraded shares of Bancorp from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Bank of America set a $60.00 price objective on Bancorp in a research report on Wednesday, January 21st. Piper Sandler began coverage on Bancorp in a research report on Thursday, March 12th. They set an "overweight" rating and a $66.00 price objective on the stock. Wolfe Research set a $57.00 price objective on Bancorp in a research report on Monday, February 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. One research 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. According to MarketBeat.com, Bancorp has a consensus rating of "Moderate Buy" and an average price target of $59.50.

Institutional Trading of Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Bancorp by 8.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank's stock valued at $157,000 after purchasing an additional 169 shares during the period. Bessemer Group Inc. increased its position in Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank's stock valued at $30,000 after purchasing an additional 176 shares during the period. Arete Wealth Advisors LLC increased its position in Bancorp by 2.0% during the 3rd quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank's stock valued at $715,000 after purchasing an additional 191 shares during the period. Osaic Holdings Inc. increased its position in Bancorp by 3.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank's stock valued at $318,000 after purchasing an additional 197 shares during the period. Finally, Rothschild Investment LLC raised its position in shares of Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank's stock worth $26,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds 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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