Insider Selling: Bancorp (NASDAQ:TBBK) COO Sells 12,532 Shares of Stock

Key Points

• Gregor Garry, COO of Bancorp, sold 12,532 shares at an average price of $75.14, totaling approximately $941,654.48, and reduced his ownership by 10.22%.
• Bancorp reported a Q2 EPS of $1.27, exceeding expectations, with revenue of $138 million compared to anticipated $94.87 million.
• A significant portion of Bancorp's stock, 96.22%, is held by hedge funds and institutional investors, reflecting strong professional interest in the company.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) COO Gregor Garry sold 12,532 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $75.14, for a total value of $941,654.48. Following the sale, the chief operating officer owned 110,107 shares in the company, valued at approximately $8,273,439.98. The trade was a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Bancorp Price Performance

Bancorp stock traded up $0.76 during midday trading on Monday, hitting $76.56. 901,987 shares of the company's stock were exchanged, compared to its average volume of 594,891. The Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $80.16. The stock has a 50-day moving average price of $66.93 and a two-hundred day moving average price of $56.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market cap of $3.53 billion, a P/E ratio of 16.46 and a beta of 1.36.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.26 by $0.01. Bancorp had a return on equity of 27.24% and a net margin of 27.16%.The business had revenue of $138.00 million during the quarter, compared to analysts' expectations of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. On average, equities research analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Hedge Funds Weigh In On Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of TBBK. Deutsche Bank AG boosted its stake in shares of Bancorp by 7.9% in the 4th quarter. Deutsche Bank AG now owns 889,550 shares of the bank's stock worth $46,817,000 after buying an additional 65,179 shares during the last quarter. Ethic Inc. purchased a new position in shares of Bancorp in the 4th quarter worth $209,000. Jefferies Financial Group Inc. purchased a new position in shares of Bancorp in the 4th quarter worth $1,053,000. Janus Henderson Group PLC raised its holdings in Bancorp by 3.6% in the 4th quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock worth $51,783,000 after purchasing an additional 33,943 shares during the period. Finally, Napa Wealth Management raised its holdings in Bancorp by 3.8% in the 4th quarter. Napa Wealth Management now owns 6,940 shares of the bank's stock worth $365,000 after purchasing an additional 255 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TBBK has been the subject of several research analyst reports. Barclays reaffirmed a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $52.00 price target on shares of Bancorp in a research report on Friday, July 18th. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Oppenheimer reissued an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $65.00 price target on shares of Bancorp in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $62.00.

Bancorp Company Profile

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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