Insider Buying: The Bancorp, Inc. (NASDAQ:TBBK) Director Purchases 545 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 545 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the acquisition, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bancorp Price Performance

Shares of Bancorp stock opened at $50.26 on Friday. The stock has a market capitalization of $2.46 billion, a P/E ratio of 12.69 and a beta of 1.45. The business has a 50 day simple moving average of $52.25 and a two-hundred day simple moving average of $43.31. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $59.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same period in the prior year, the company posted $0.92 EPS. As a group, analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP grew its stake in shares of Bancorp by 256.2% in the first quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock valued at $782,000 after buying an additional 16,812 shares in the last quarter. Jane Street Group LLC raised its stake in Bancorp by 129.0% in the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after buying an additional 70,361 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Bancorp during the first quarter worth approximately $1,008,000. BNP Paribas Financial Markets increased its stake in Bancorp by 51.6% in the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock valued at $2,404,000 after purchasing an additional 24,453 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Bancorp by 71.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after buying an additional 164,855 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TBBK. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price objective (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

Bancorp Company Profile

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.