The Bancorp Inc. (NASDAQ:TBBK) Director Walter T. Beach bought 180,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was bought at an average price of $4.50 per share, for a total transaction of $810,000.00. Following the completion of the purchase, the director now directly owns 337,829 shares in the company, valued at $1,520,230.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
The Bancorp Inc. (NASDAQ:TBBK) traded up 0.31% during trading on Wednesday, hitting $6.54. 205,124 shares of the stock were exchanged. The Bancorp Inc. has a 12 month low of $3.88 and a 12 month high of $8.20. The stock’s 50 day moving average price is $6.00 and its 200 day moving average price is $5.89. The stock’s market cap is $247.51 million.
The Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.24. Analysts forecast that The Bancorp Inc. will post ($1.03) EPS for the current fiscal year.
TBBK has been the topic of a number of research analyst reports. TheStreet downgraded shares of The Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 29th. Raymond James Financial Inc. upgraded shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, August 9th. BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of The Bancorp in a research note on Monday, July 25th. Finally, Zacks Investment Research downgraded shares of The Bancorp from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 4th.
Large investors have recently added to or reduced their stakes in the stock. Aristotle Capital Boston LLC increased its stake in The Bancorp by 1.3% in the second quarter. Aristotle Capital Boston LLC now owns 360,411 shares of the company’s stock worth $2,170,000 after buying an additional 4,703 shares during the period. Schwab Charles Investment Management Inc. increased its stake in The Bancorp by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,773 shares of the company’s stock worth $643,000 after buying an additional 1,806 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in The Bancorp during the second quarter worth about $152,000. Parametric Portfolio Associates LLC increased its stake in The Bancorp by 10.1% in the second quarter. Parametric Portfolio Associates LLC now owns 383,175 shares of the company’s stock worth $2,307,000 after buying an additional 35,204 shares during the period. Finally, State Street Corp increased its stake in The Bancorp by 6.6% in the second quarter. State Street Corp now owns 565,978 shares of the company’s stock worth $3,411,000 after buying an additional 35,175 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.
The Bancorp Company Profile
The Bancorp, Inc is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank). The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The Company operates through three segments: specialty finance, payments and corporate.
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