Bancorp (NASDAQ:TBBK) Stock: Insider Stephanie Mudick Buys 1,000 Shares

The Bancorp, Inc. (NASDAQ:TBBK) Director Stephanie Mudick acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was purchased at an average cost of $47.49 per share, with a total value of $47,490.00. Following the acquisition, the director directly owned 45,150 shares of the company’s stock, valued at $2,144,173.50. This represents a 2.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Bancorp Price Performance

Shares of Bancorp stock traded up $0.51 during mid-day trading on Friday, reaching $48.25. 415,037 shares of the stock traded hands, compared to its average volume of 521,706. The business has a 50-day moving average of $52.04 and a 200 day moving average of $58.13. The Bancorp, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $73.02. The stock has a market capitalization of $1.97 billion, a PE ratio of 8.51 and a beta of 1.20. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.47. The firm had revenue of $135.89 million during the quarter, compared to analysts’ expectations of $154.86 million. Bancorp had a net margin of 30.13% and a return on equity of 34.29%. On average, analysts predict that The Bancorp, Inc. will post 5.99 EPS for the current year.

Hedge Funds Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of TBBK. Squarepoint Ops LLC increased its stake in shares of Bancorp by 1,000.0% during the second quarter. Squarepoint Ops LLC now owns 54,934 shares of the bank’s stock worth $3,441,000 after acquiring an additional 49,940 shares during the period. Congress Asset Management Co. lifted 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 valued at $16,740,000 after purchasing an additional 61,054 shares during the period. Bank of America Corp DE boosted its holdings in Bancorp by 104.5% in the 1st quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock valued at $22,922,000 after purchasing an additional 218,038 shares in the last quarter. Kendall Capital Management purchased a new stake in Bancorp in the 2nd quarter valued at approximately $1,014,000. Finally, Principal Financial Group Inc. boosted its holdings in Bancorp by 8.3% in the 1st quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock valued at $18,955,000 after purchasing an additional 27,058 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TBBK shares. Weiss Ratings upgraded Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Stephens reissued an “equal weight” rating and set a $59.00 target price on shares of Bancorp in a research note on Wednesday, October 21st. Zacks Research cut Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $79.00 price target (up from $77.00) on shares of Bancorp in a report on Monday, August 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Bancorp in a research report on Tuesday, October 20th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.88.

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.