Matthew Cohn Purchases 230 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn acquired 230 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of $56.78 per share, with a total value of $13,059.40. Following the completion of the acquisition, the director directly owned 2,675 shares of the company’s stock, valued at approximately $151,886.50. This trade represents a 9.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 11th, Matthew Cohn acquired 170 shares of Bancorp stock. The shares were bought at an average cost of $56.99 per share, with a total value of $9,688.30.
• On Tuesday, February 10th, Matthew Cohn bought 680 shares of Bancorp stock. The stock was bought at an average cost of $62.14 per share, for a total transaction of $42,255.20.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $58.57 on Friday. The stock has a fifty day moving average price of $66.90 and a 200 day moving average price of $69.23. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year 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 company has a market cap of $2.57 billion, a PE ratio of 11.90 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The firm had revenue of $132.21 million for the quarter, compared to analysts’ expectations of $101.10 million. Sell-side analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Bancorp by 4.8% in the 3rd quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock worth $208,327,000 after buying an additional 126,302 shares during the period. American Century Companies Inc. raised its position in shares of Bancorp by 3.3% in the 2nd quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock valued at $154,705,000 after purchasing an additional 86,721 shares in the last quarter. Geode Capital Management LLC raised its holdings in Bancorp by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,373,686 shares of the bank’s stock valued at $78,266,000 after acquiring an additional 7,405 shares in the last quarter. Owls Nest Partners IA LLC lifted its position in shares of Bancorp by 6.4% during the second quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank’s stock worth $72,090,000 after purchasing an additional 75,635 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Bancorp by 11.5% during the 2nd quarter. Franklin Resources Inc. now owns 1,112,816 shares of the bank’s stock worth $63,397,000 after buying an additional 114,846 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of a number of analyst reports. Bank of America set a $60.00 target price on Bancorp in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Wolfe Research set a $57.00 target price on Bancorp in a report on Monday. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Finally, Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.