Shares of The Bancorp, Inc. (NASDAQ:TBBK) have earned an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.56.
Several equities research analysts have recently commented on TBBK shares. TheStreet downgraded shares of The Bancorp from a “c-” rating to a “d” rating in a research report on Monday, April 24th. BTIG Research raised shares of The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Monday, May 1st. Finally, Zacks Investment Research raised shares of The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Wednesday, June 7th.
Shares of The Bancorp (NASDAQ TBBK) opened at 7.30 on Tuesday. The firm’s market cap is $406.53 million. The Bancorp has a 52 week low of $4.41 and a 52 week high of $8.20. The company’s 50-day moving average price is $6.47 and its 200 day moving average price is $6.11.
The Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, April 27th. The bank reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $49.10 million during the quarter, compared to the consensus estimate of $44.26 million. The Bancorp had a negative net margin of 50.29% and a negative return on equity of 11.95%. On average, equities analysts anticipate that The Bancorp will post $0.39 earnings per share for the current year.
In other The Bancorp news, CAO John Leto bought 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $6.61 per share, with a total value of $264,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 135,762 shares in the company, valued at approximately $897,386.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter T. Beach sold 33,640 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $6.26, for a total transaction of $210,586.40. Following the sale, the director now directly owns 362,829 shares of the company’s stock, valued at $2,271,309.54. The disclosure for this sale can be found here. Over the last three months, insiders have bought 104,498 shares of company stock valued at $687,987 and have sold 180,189 shares valued at $1,109,310. Insiders own 7.71% of the company’s stock.
Large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in The Bancorp by 2.0% in the first quarter. Wellington Management Group LLP now owns 5,241,020 shares of the bank’s stock valued at $26,729,000 after buying an additional 104,306 shares during the last quarter. Second Curve Capital LLC increased its stake in shares of The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock worth $15,991,000 after buying an additional 735,000 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of The Bancorp by 4.4% in the first quarter. Wells Fargo & Company MN now owns 2,466,233 shares of the bank’s stock worth $12,578,000 after buying an additional 102,883 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Bancorp by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,453,786 shares of the bank’s stock worth $12,514,000 after buying an additional 148,942 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of The Bancorp by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock worth $10,646,000 after buying an additional 90,800 shares during the last quarter. 76.98% of the stock is owned by institutional investors.
About The Bancorp
The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).
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