Matthew Cohn Buys 500 Shares of The Bancorp, Inc. (NASDAQ:TBBK) Stock

Key Points

• Matthew Cohn, a director at The Bancorp, Inc., acquired 500 shares at a price of $63.00 each, increasing his total holdings to 59,611 shares valued at approximately $3.76 million.
• The Bancorp reported an earnings per share of $1.27 for the last quarter, surpassing analyst predictions and demonstrating a robust return on equity of 27.24%.
• Financial analysts are divided on the stock, with ratings ranging from sell to strong buy, and an average target price of $62.00.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) Director Matthew Cohn purchased 500 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $63.00 per share, for a total transaction of $31,500.00. Following the purchase, the director owned 59,611 shares in the company, valued at $3,755,493. The trade was a 0.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Matthew Cohn also recently made the following trade(s):

• On Wednesday, July 30th, Matthew Cohn bought 62 shares of Bancorp stock. The stock was purchased at an average cost of $62.51 per share, for a total transaction of $3,875.62.
• On Tuesday, July 29th, Matthew Cohn purchased 1,350 shares of Bancorp stock. The shares were purchased at an average cost of $64.80 per share, with a total value of $87,480.00.

Bancorp Price Performance

Shares of NASDAQ:TBBK traded down $0.67 during midday trading on Friday, hitting $62.49. The stock had a trading volume of 1,104,497 shares, compared to its average volume of 588,541. The company's 50-day moving average price is $57.79 and its 200-day moving average price is $54.70. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $70.63. 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 company has a market capitalization of $2.92 billion, a P/E ratio of 13.44 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

TBBK has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $65.00 price objective on shares of Bancorp in a research report on Friday, July 11th. Morgan Stanley reiterated an "overweight" rating and issued a $52.00 price objective on shares of Bancorp in a research note on Friday, July 18th. Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a report on Monday, July 7th. Finally, Raymond James Financial upgraded Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bancorp has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of Bancorp by 2.0% in the fourth quarter. FMR LLC now owns 4,306,715 shares of the bank's stock valued at $226,662,000 after buying an additional 85,908 shares during the period. Invesco Ltd. increased its position in Bancorp by 20.7% during the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank's stock valued at $143,354,000 after purchasing an additional 466,139 shares during the period. American Century Companies Inc. raised its holdings in Bancorp by 9.8% during the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock worth $138,908,000 after purchasing an additional 235,303 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Bancorp by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank's stock valued at $96,248,000 after purchasing an additional 93,586 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Bancorp by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock worth $51,783,000 after buying an additional 33,943 shares during the period. Institutional investors own 96.22% of the company's stock.

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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