The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn Purchases 550 Shares

Key Points

• Matthew Cohn, a director of The Bancorp, Inc., purchased 550 shares of the company's stock at an average price of $63.51 per share, increasing his total holdings to 1,900 shares.
• The Bancorp reported earnings per share (EPS) of $1.27 for the last quarter, exceeding analysts' expectations of $1.26, and generated a revenue of $138 million.
• Institutional investors currently own 96.22% of The Bancorp's stock, indicating a high level of confidence in the company's performance.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) Director Matthew Cohn bought 550 shares of Bancorp stock in a transaction on Monday, August 4th. The stock was purchased at an average price of $63.51 per share, with a total value of $34,930.50. Following the completion of the acquisition, the director directly owned 1,900 shares of the company's stock, valued at $120,669. This represents a 40.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, July 31st, Matthew Cohn purchased 500 shares of Bancorp stock. The shares were bought at an average price of $63.00 per share, with a total value of $31,500.00.
• On Wednesday, July 30th, Matthew Cohn bought 62 shares of Bancorp stock. The shares were acquired at an average price 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 acquired at an average cost of $64.80 per share, for a total transaction of $87,480.00.

Bancorp Stock Performance

Bancorp stock traded down $2.09 during mid-day trading on Wednesday, reaching $62.76. The company had a trading volume of 580,081 shares, compared to its average volume of 907,778. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $70.63. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 13.50 and a beta of 1.30. 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 50 day moving average of $58.54 and a 200-day moving average of $54.88.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Bancorp during the first quarter worth approximately $39,000. Brooklyn Investment Group acquired a new position in shares of Bancorp during the first quarter valued at about $58,000. GAMMA Investing LLC boosted its stake in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after purchasing an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Bancorp during the 1st quarter valued at about $169,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Bancorp during the second quarter worth about $170,000. Institutional investors and hedge funds 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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