According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “
Other equities analysts have also recently issued reports about the stock. BTIG Research reaffirmed a buy rating and set a $10.00 price target on shares of The Bancorp in a research note on Monday, July 25th. TheStreet cut shares of The Bancorp from a hold rating to a sell rating in a research note on Monday, August 29th. Finally, Raymond James Financial Inc. raised shares of The Bancorp from a market perform rating to a strong-buy rating and set a $6.50 price target for the company in a research note on Tuesday, August 9th.
The Bancorp (NASDAQ:TBBK) traded down 1.01% during trading on Wednesday, reaching $6.85. 17,211 shares of the company traded hands. The company’s market cap is $259.24 million. The Bancorp has a 12 month low of $3.88 and a 12 month high of $8.20. The company’s 50-day moving average is $6.27 and its 200 day moving average is $5.94.
The Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.23) by $0.24. On average, analysts anticipate that The Bancorp will post ($1.03) earnings per share for the current year.
In other news, CEO Damian Kozlowski bought 9,790 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was acquired at an average cost of $4.95 per share, with a total value of $48,460.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Bradley bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average cost of $5.05 per share, with a total value of $50,500.00. The disclosure for this purchase can be found here. Insiders own 7.71% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Advisors LLC boosted its position in The Bancorp by 1.4% in the second quarter. BlackRock Advisors LLC now owns 16,668 shares of the company’s stock valued at $100,000 after buying an additional 235 shares in the last quarter. American International Group Inc. boosted its position in The Bancorp by 2.2% in the second quarter. American International Group Inc. now owns 20,179 shares of the company’s stock valued at $121,000 after buying an additional 436 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in The Bancorp during the first quarter valued at $125,000. Alliancebernstein L.P. boosted its position in The Bancorp by 16.8% in the second quarter. Alliancebernstein L.P. now owns 20,900 shares of the company’s stock valued at $126,000 after buying an additional 3,000 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY purchased a new position in The Bancorp during the second quarter valued at $152,000. 77.98% of the stock is owned by institutional investors and hedge funds.
About The Bancorp
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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