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

The Bancorp, Inc. (NASDAQ:TBBK) EVP Ryan Harris sold 4,500 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $48.27, for a total transaction of $217,215.00. Following the transaction, the executive vice president directly owned 146,016 shares of the company’s stock, valued at approximately $7,048,192.32. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Bancorp Stock Performance

Shares of TBBK stock opened at $49.79 on Tuesday. The firm’s 50 day moving average price is $51.36 and its 200-day moving average price is $57.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.88. The Bancorp, Inc. has a one year low of $45.08 and a one year high of $73.02. The firm has a market cap of $2.03 billion, a P/E ratio of 8.44 and a beta of 1.20.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $79.00 target price (up from $77.00) on shares of Bancorp in a research report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and issued a $62.00 price objective (down from $75.00) on shares of Bancorp in a research report on Monday. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 target price on shares of Bancorp in a research report on Tuesday, October 20th. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 3rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $59.00 price target on shares of Bancorp in a research report on Wednesday, October 21st. Five 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Hedge Funds Weigh In On Bancorp

A number of large investors have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. purchased a new position in Bancorp in the third quarter valued at about $26,000. Maryland State Retirement & Pension System raised its holdings in shares of Bancorp by 41.5% in the third quarter. Maryland State Retirement & Pension System now owns 8,566 shares of the bank’s stock worth $413,000 after acquiring an additional 2,511 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Bancorp by 23.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 27,814 shares of the bank’s stock valued at $1,340,000 after purchasing an additional 5,342 shares during the last quarter. Lido Advisors LLC raised its position in shares of Bancorp by 17.5% in the third quarter. Lido Advisors LLC now owns 12,585 shares of the bank’s stock valued at $606,000 after buying an additional 1,870 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Bancorp by 4,089.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,595 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc is a financial holding company based in Wilmington, Delaware. Through its subsidiary, The Bancorp Bank, National Association, it provides banking and financial services primarily to businesses and other organizations rather than operating a traditional branch-focused consumer bank.

The company’s services include payment and card programs, such as prepaid and debit card solutions, along with payment processing and banking services for fintech companies and other partners.