The Bancorp, Inc. (NASDAQ:TBBK) CEO Damian Kozlowski Sells 39,659 Shares

Key Points

• The Bancorp, Inc. CEO Damian Kozlowski sold 39,659 shares at an average price of $62.74, totaling approximately $2.49 million, which decreased his ownership stake by 5.69%.
• Recently, Kozlowski also sold other significant amounts of stock, including 119,128 shares and 141,213 shares, at prices of $63.93 and $64.84 respectively.
• Bancorp reported an earnings per share (EPS) of $1.27 for the last quarter, slightly beating analysts' expectations, with revenues reaching $138 million compared to an estimate of $94.87 million.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) CEO Damian Kozlowski sold 39,659 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total value of $2,488,205.66. Following the transaction, the chief executive officer owned 657,656 shares of the company's stock, valued at approximately $41,261,337.44. This trade represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, July 30th, Damian Kozlowski sold 119,128 shares of Bancorp stock. The shares were sold at an average price of $63.93, for a total value of $7,615,853.04.
• On Tuesday, July 29th, Damian Kozlowski sold 141,213 shares of Bancorp stock. The stock was sold at an average price of $64.84, for a total transaction of $9,156,250.92.

Bancorp Price Performance

Shares of Bancorp stock traded up $0.17 during trading on Thursday, hitting $63.16. 777,351 shares of the company were exchanged, compared to its average volume of 584,954. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 13.58 and a beta of 1.25. 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 firm has a 50 day moving average price of $57.35 and a 200 day moving average price of $54.56. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $70.63.

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

Analyst Upgrades and Downgrades

TBBK has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 price target on shares of Bancorp in a research report on Friday, July 11th. Jefferies Financial Group upgraded Bancorp to a "buy" rating in a report on Monday, July 7th. Barclays reissued a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Oppenheimer restated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Finally, Wall Street Zen cut Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bancorp presently 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. lifted its position in shares of Bancorp by 26.2% in the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock worth $118,251,000 after purchasing an additional 466,795 shares in the last quarter. Nantahala Capital Management LLC increased its position in shares of Bancorp by 65.7% during the 4th quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock worth $51,286,000 after purchasing an additional 386,295 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in 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 last quarter. Balyasny Asset Management L.P. raised its position in shares of Bancorp by 599.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank's stock worth $19,390,000 after acquiring an additional 315,772 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Bancorp by 70.3% in 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 during the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

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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