Dominic Canuso Buys 2,000 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average cost of $60.54 per share, for a total transaction of $121,080.00. Following the completion of the acquisition, the chief financial officer owned 16,169 shares in the company, valued at $978,871.26. This represents a 14.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bancorp Price Performance

TBBK traded down $2.67 during midday trading on Tuesday, hitting $59.38. The stock had a trading volume of 502,414 shares, compared to its average volume of 673,324. The company has a market cap of $2.61 billion, a P/E ratio of 12.07 and a beta of 1.31. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65. The business has a fifty day moving average of $67.44 and a 200 day moving average of $69.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The business had revenue of $132.21 million during the quarter, compared to analysts’ expectations of $101.10 million. Bancorp had a net margin of 26.15% and a return on equity of 28.91%. As a group, equities analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bancorp

Hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC lifted its position in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after acquiring an additional 235 shares during the period. Bessemer Group Inc. grew its stake in shares of Bancorp by 78.6% in the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after buying an additional 176 shares during the last quarter. Lazard Asset Management LLC bought a new position in Bancorp during the 2nd quarter valued at approximately $53,000. Northwestern Mutual Wealth Management Co. raised its stake in Bancorp by 732.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after buying an additional 659 shares during the last quarter. Finally, IFP Advisors Inc bought a new stake in Bancorp in the third quarter worth $66,000. 96.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TBBK has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. William Blair set a $60.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.20.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.