Analysts Set The Bancorp, Inc. (NASDAQ:TBBK) Target Price at $62.00

Key Points

• The Bancorp, Inc. (NASDAQ:TBBK) has received a consensus rating of "Buy" from analysts, with an average twelve-month price target of $62.00.
• CEO Damian Kozlowski recently sold 141,213 shares at an average price of $64.84, while director Matthew Cohn purchased 1,350 shares at $64.80 each.
• In the latest quarter, Bancorp reported earnings per share of $1.27, exceeding analysts' expectations by $0.01, alongside revenues of $138.00 million.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $62.00.

Several analysts have weighed in on TBBK shares. Wall Street Zen lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Barclays restated a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $65.00 price target on shares of Bancorp in a research report on Friday, July 11th. Finally, Morgan Stanley restated an "overweight" rating and set a $52.00 price target on shares of Bancorp in a research report on Friday, July 18th.

Insider Transactions at Bancorp

In related news, Director Matthew Cohn bought 1,350 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $64.80 per share, for a total transaction of $87,480.00. Following the transaction, the director directly owned 1,350 shares of the company's stock, valued at approximately $87,480. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Damian Kozlowski sold 141,213 shares of the stock in a transaction dated Tuesday, July 29th. The shares were 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 of the company's stock, valued at $52,938,164.12. This represents a 14.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,912 shares of company stock valued at $122,856 and sold 300,000 shares valued at $19,260,310. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of TBBK. Quarry LP acquired a new stake in Bancorp in the 1st quarter valued at about $39,000. Brooklyn Investment Group acquired a new stake in Bancorp in the 1st quarter valued at about $58,000. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 456 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Bancorp in the 4th quarter valued at about $139,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Bancorp in the 1st quarter valued at about $169,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Down 1.1%

TBBK traded down $0.67 during trading on Friday, hitting $62.49. The company had a trading volume of 1,104,497 shares, compared to its average volume of 887,328. The company has a market cap of $2.92 billion, a PE ratio of 13.44 and a beta of 1.30. The business has a 50-day moving average of $58.02 and a 200-day moving average of $54.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. Bancorp has a 1-year low of $40.51 and a 1-year high of $70.63.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $94.87 million. As a group, analysts forecast that Bancorp will post 5.31 earnings per share for the current year.

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.