Ryan Harris Sells 9,841 Shares of Bancorp (NASDAQ:TBBK) Stock

Key Points

• Ryan Harris, EVP of Bancorp, sold 9,841 shares of the company at an average price of $76.37, totaling approximately $751,557, which decreased his ownership by 7.06%.
• Bancorp's stock recently traded at $76.66, showing a 0.9% increase, with a market capitalization of $3.53 billion and a P/E ratio of 16.49.
• Wall Street analysts have generally rated Bancorp positively, with a consensus rating of Buy and an average price target of $62.00.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) EVP Ryan Harris sold 9,841 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $76.37, for a total value of $751,557.17. Following the completion of the transaction, the executive vice president directly owned 129,598 shares in the company, valued at $9,897,399.26. This trade represents a 7.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bancorp Stock Up 0.9%

Bancorp stock traded up $0.66 during midday trading on Thursday, reaching $76.66. The company's stock had a trading volume of 454,943 shares, compared to its average volume of 593,040. The stock's 50-day simple moving average is $68.02 and its 200-day simple moving average is $57.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $80.16. The stock has a market capitalization of $3.53 billion, a P/E ratio of 16.49 and a beta of 1.36.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data 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 27.16%.The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. On average, sell-side analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Institutional Investors Weigh In On Bancorp

A number of large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in Bancorp during the 1st quarter valued at approximately $518,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bancorp by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,752 shares of the bank's stock worth $897,000 after purchasing an additional 5,872 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Bancorp by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 313,095 shares of the bank's stock worth $16,544,000 after purchasing an additional 8,486 shares during the last quarter. Hsbc Holdings PLC raised its stake in Bancorp by 158.7% during the 1st quarter. Hsbc Holdings PLC now owns 17,991 shares of the bank's stock valued at $946,000 after acquiring an additional 11,037 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Bancorp during the 1st quarter valued at $673,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Raymond James Financial raised Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $65.00 target price on shares of Bancorp in a report on Friday, July 11th. Jefferies Financial Group upgraded Bancorp to a "buy" rating in a report on Monday, July 7th. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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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