Bancorp (NASDAQ:TBBK) CMO Maria Wainwright Sells 8,400 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the sale, the chief marketing officer owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Bancorp Trading Down 0.3%

Shares of TBBK opened at $59.83 on Friday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 11.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89. The Bancorp, Inc. has a fifty-two week low of $48.28 and a fifty-two week high of $81.65. The firm has a 50 day moving average price of $56.00 and a 200-day moving average price of $63.10.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. Bancorp had a net margin of 31.71% and a return on equity of 30.56%. As a group, equities research analysts forecast that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TBBK shares. Piper Sandler started coverage on shares of Bancorp in a report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price objective for the company. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research note on Friday, March 27th. Finally, Bank of America set a $60.00 target price on shares of Bancorp in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC increased its stake in shares of Bancorp by 213.6% in the third quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares during the period. Bessemer Group Inc. increased its position in Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after purchasing an additional 176 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Bancorp during the 4th quarter valued at $27,000. Northwestern Mutual Wealth Management Co. increased its position in Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after purchasing an additional 659 shares during the period. Finally, IFP Advisors Inc purchased a new position in Bancorp during the 3rd quarter valued at $66,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

About Bancorp

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.