Insider Buying: Bancorp (NASDAQ:TBBK) Director Purchases $42,255.20 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn acquired 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average cost of $62.14 per share, with a total value of $42,255.20. Following the acquisition, the director directly owned 3,655 shares of the company’s stock, valued at $227,121.70. This trade represents a 22.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, February 12th, Matthew Cohn bought 230 shares of Bancorp stock. The shares were acquired at an average price of $56.78 per share, for a total transaction of $13,059.40.
• On Wednesday, February 11th, Matthew Cohn bought 170 shares of Bancorp stock. The stock was bought at an average price of $56.99 per share, with a total value of $9,688.30.

Bancorp Stock Up 4.9%

Shares of NASDAQ:TBBK opened at $58.57 on Friday. The business has a 50 day simple moving average of $66.90 and a two-hundred day simple moving average of $69.26. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market capitalization of $2.57 billion, a PE ratio of 11.90 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results 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). Bancorp had a net margin of 26.15% and a return on equity of 28.91%. The firm had revenue of $132.21 million during the quarter, compared to analysts’ expectations of $101.10 million. On average, equities analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several analyst reports. Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating on shares of Bancorp in a report on Monday, February 9th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $58.20.

Hedge Funds Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in shares of Bancorp by 735.0% in the 3rd quarter. New York State Common Retirement Fund now owns 139,489 shares of the bank’s stock worth $10,446,000 after purchasing an additional 122,784 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Bancorp in the 3rd quarter valued at about $7,351,000. First Citizens Bank & Trust Co. bought a new stake in Bancorp during the third quarter worth $657,000. Quantbot Technologies LP boosted its holdings in shares of Bancorp by 445.8% in the 2nd quarter. Quantbot Technologies LP now owns 58,398 shares of the bank’s stock worth $3,327,000 after buying an additional 47,699 shares during the last quarter. Finally, California First Leasing Corp purchased a new stake in shares of Bancorp during the 3rd quarter worth approximately $1,850,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Company Profile

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.