Bancorp (NASDAQ:TBBK) Sets New 1-Year High at $47.47

Shares of The Bancorp, Inc. (NASDAQ:TBBK) reached a new 52-week high during trading on Tuesday . The company traded as high as $47.47 and last traded at $47.12, with a volume of 192086 shares traded. The stock had previously closed at $45.20.

Wall Street Analyst Weigh In

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

Bancorp Stock Performance

The firm’s 50 day simple moving average is $35.89 and its 200 day simple moving average is $36.91. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 13.05 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.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $123.80 million during the quarter, compared to the consensus estimate of $126.86 million. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. During the same period in the previous year, the firm posted $0.88 earnings per share. Sell-side analysts forecast that The Bancorp, Inc. will post 4.53 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In other news, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 of the company’s stock, valued at approximately $491,131.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Cheryl Creuzot sold 766 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.64, for a total transaction of $25,002.24. Following the sale, the director now directly owns 7,638 shares in the company, valued at approximately $249,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer F. Terry sold 11,256 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The disclosure for this sale can be found here. Insiders have purchased 1,706 shares of company stock worth $54,962 over the last quarter. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in TBBK. GAMMA Investing LLC increased its holdings in Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after acquiring an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 last quarter. Quest Partners LLC purchased a new stake in Bancorp during the 4th quarter worth approximately $115,000. Summit Asset Management LLC acquired a new position in shares of Bancorp during the fourth quarter valued at approximately $202,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Bancorp in the second quarter valued at approximately $216,000. 96.22% of the stock is currently 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.