Bancorp (NASDAQ:TBBK) EVP Ryan Harris Sells 4,500 Shares

The Bancorp, Inc. (NASDAQ:TBBK) EVP Ryan Harris sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $53.18, for a total value of $239,310.00. Following the transaction, the executive vice president directly owned 150,516 shares in the company, valued at approximately $8,004,440.88. This represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Bancorp Stock Down 0.9%

Shares of TBBK opened at $53.09 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $61.26 and a 200 day moving average of $67.48. The company has a market cap of $2.24 billion, a PE ratio of 10.79 and a beta of 1.31. The Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $81.65.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.18). The firm had revenue of $132.21 million during the quarter, compared to analysts’ expectations of $101.10 million. Bancorp had a net margin of 25.94% and a return on equity of 28.91%. On average, sell-side analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Hedge Funds Weigh In On Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in shares of Bancorp by 8.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock valued at $157,000 after acquiring an additional 169 shares in the last quarter. Bessemer Group Inc. increased its holdings in Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares during the period. Arete Wealth Advisors LLC increased its holdings in Bancorp by 2.0% during the 3rd quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank’s stock worth $715,000 after purchasing an additional 191 shares during the period. Osaic Holdings Inc. raised its position in Bancorp by 3.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after purchasing an additional 197 shares in the last quarter. Finally, Rothschild Investment LLC raised its position in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after purchasing an additional 235 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TBBK has been the subject of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Piper Sandler assumed coverage on Bancorp in a research note on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target for the company. Wolfe Research set a $57.00 price objective on Bancorp in a report on Monday, February 9th. Finally, Bank of America set a $60.00 price objective on Bancorp in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bancorp has a consensus rating of “Moderate Buy” and an average target price of $59.50.

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.