Bancorp (NASDAQ:TBBK) Sets New 12-Month High at $51.12

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.12 and last traded at $50.94, with a volume of 184060 shares. The stock had previously closed at $49.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TBBK. Piper Sandler reissued an “overweight” rating and set a $55.00 target price on shares of Bancorp in a research note on Tuesday, July 2nd. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods cut their target price on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, April 5th.

Bancorp Trading Up 3.5 %

The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 13.84 and a beta of 1.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The business has a fifty day moving average of $37.17 and a two-hundred day moving average of $37.24.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $123.80 million for the quarter, compared to analysts’ expectations of $126.86 million. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities analysts expect that The Bancorp, Inc. will post 4.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the sale, the executive vice president now owns 15,262 shares in the company, valued at approximately $491,131.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Bancorp news, Director Hersh Kozlov purchased 1,000 shares of Bancorp stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $32.53 per share, with a total value of $32,530.00. Following the purchase, the director now directly owns 111,264 shares in the company, valued at approximately $3,619,417.92. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the transaction, the executive vice president now directly owns 15,262 shares in the company, valued at approximately $491,131.16. The disclosure for this sale can be found here. Insiders have bought a total of 1,706 shares of company stock worth $54,962 in the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after buying an additional 291 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after buying an additional 1,272 shares during the period. Quest Partners LLC purchased a new position in shares of Bancorp in the 4th quarter worth $115,000. Summit Asset Management LLC purchased a new position in shares of Bancorp in the 4th quarter worth $202,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Bancorp in the 2nd quarter worth $216,000. 96.22% of the stock is owned by hedge funds and other 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.