Bancorp (NASDAQ:TBBK) Stock: Insider Matthew Cohn Buys 1,000 Shares

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were bought at an average cost of $45.54 per share, for a total transaction of $45,540.00. Following the transaction, the director directly owned 63,111 shares of the company’s stock, valued at approximately $2,874,074.94. This trade represents a 1.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Bancorp Stock Up 1.5%

Shares of Bancorp stock traded up $0.69 on Wednesday, reaching $47.34. 850,319 shares of the company were exchanged, compared to its average volume of 521,486. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.87. The Bancorp, Inc. has a 1-year low of $45.08 and a 1-year high of $73.02. The company has a market cap of $1.93 billion, a P/E ratio of 8.35 and a beta of 1.20. The stock’s 50 day moving average price is $52.80 and its 200-day moving average price is $58.36.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 EPS for the quarter, meeting analysts’ consensus estimates of $1.47. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. The company had revenue of $135.89 million for the quarter, compared to the consensus estimate of $154.86 million. As a group, equities analysts forecast that The Bancorp, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on TBBK. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $79.00 target price (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. DA Davidson set a $64.00 price target on Bancorp in a report on Tuesday, October 20th. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Bank of America restated a “buy” rating on shares of Bancorp in a research report on Monday, July 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 price target on shares of Bancorp in a report on Tuesday, October 20th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.88.

Institutional Trading of Bancorp

A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Bancorp by 19.0% during the first quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock valued at $58,296,000 after acquiring an additional 172,925 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Bancorp by 104.5% in the 1st quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock worth $22,922,000 after buying an additional 218,038 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Bancorp by 8.3% in the first quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock valued at $18,955,000 after acquiring an additional 27,058 shares during the period. Congress Asset Management Co. increased its position in Bancorp by 21.3% in the third quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock worth $16,740,000 after buying an additional 61,054 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Bancorp in the 1st quarter valued at about $15,063,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

About Bancorp

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.