Bancorp (NASDAQ:TBBK) Director Matthew Cohn Buys 680 Shares

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn purchased 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average cost of $62.14 per share, for a total transaction of $42,255.20. Following the purchase, the director directly owned 3,655 shares in the company, valued at $227,121.70. This represents a 22.86% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Bancorp Trading Down 2.1%

Bancorp stock traded down $1.19 during midday trading on Thursday, reaching $55.85. The stock had a trading volume of 652,359 shares, compared to its average volume of 734,019. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month 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 cap of $2.45 billion, a price-to-earnings ratio of 11.35 and a beta of 1.31. The firm’s fifty day simple moving average is $67.24 and its two-hundred day simple moving average is $69.36.

Bancorp (NASDAQ:TBBK) last released its 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 business had revenue of $132.21 million during the quarter, compared to analysts’ expectations of $101.10 million. Equities analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Bancorp

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Bancorp by 98.2% during the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock valued at $4,052,000 after purchasing an additional 37,993 shares during the last quarter. AQR Capital Management LLC grew its stake in Bancorp by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock valued at $884,000 after buying an additional 2,296 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Bancorp by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock valued at $1,436,000 after buying an additional 518 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Bancorp by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock worth $7,795,000 after purchasing an additional 8,454 shares during the period. Finally, Jane Street Group LLC increased its position in Bancorp by 145.8% in the 1st quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock worth $6,773,000 after buying an additional 76,027 shares during the period. Institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TBBK. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Bank of America set a $60.00 price target on Bancorp in a research note on Wednesday, January 21st. Piper Sandler restated an “overweight” rating on shares of Bancorp in a report on Monday. Finally, Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.20.

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.