The Bancorp, Inc. (NASDAQ:TBBK) CEO Damian Kozlowski Sells 141,213 Shares

Key Points

• Damian Kozlowski, CEO of The Bancorp, Inc., sold a total of 141,213 shares of company stock at an average price of $64.84, resulting in a transaction of approximately $9.16 million, which reflects a 14.75% decrease in his ownership position.
• The bank's reported earnings for the recent quarter were $1.27 EPS, exceeding analyst expectations by $0.01, with a revenue of $138 million compared to projections of $94.87 million.
• Several analysts have recently assigned ratings to Bancorp shares, with a consensus rating of "Moderate Buy" and an average target price of $62.00 from various research groups.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) CEO Damian Kozlowski sold 141,213 shares of Bancorp stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $64.84, for a total transaction of $9,156,250.92. Following the completion of the transaction, the chief executive officer owned 816,443 shares in the company, valued at $52,938,164.12. This trade represents a 14.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Damian Kozlowski also recently made the following trade(s):

• On Thursday, July 31st, Damian Kozlowski sold 39,659 shares of Bancorp stock. The stock was sold at an average price of $62.74, for a total transaction of $2,488,205.66.
• On Wednesday, July 30th, Damian Kozlowski sold 119,128 shares of Bancorp stock. The stock was sold at an average price of $63.93, for a total value of $7,615,853.04.

Bancorp Trading Up 0.3%

TBBK stock traded up $0.17 during midday trading on Thursday, reaching $63.16. The stock had a trading volume of 777,351 shares, compared to its average volume of 584,954. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 13.58 and a beta of 1.25. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month 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 business has a fifty day simple moving average of $57.35 and a two-hundred day simple moving average of $54.56.

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

Analyst Upgrades and Downgrades

TBBK has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $65.00 price objective on shares of Bancorp in a report on Friday, July 11th. Barclays restated a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Bancorp by 26.2% in the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock valued at $118,251,000 after buying an additional 466,795 shares during the period. Nantahala Capital Management LLC grew its stake in Bancorp by 65.7% during the fourth quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock worth $51,286,000 after buying an additional 386,295 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Bancorp by 741.9% during the 1st quarter. Jupiter Asset Management Ltd. now owns 428,942 shares of the bank's stock worth $22,665,000 after acquiring an additional 377,993 shares during the period. Balyasny Asset Management L.P. increased its stake in Bancorp by 599.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank's stock valued at $19,390,000 after acquiring an additional 315,772 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Bancorp by 70.3% during the fourth quarter. JPMorgan Chase & Co. now owns 653,444 shares of the bank's stock valued at $34,391,000 after purchasing an additional 269,660 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

About Bancorp

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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