The Bancorp, Inc. (NASDAQ:TBBK) CFO Frenkiel Paul bought 22,498 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were acquired at an average price of $6.56 per share, for a total transaction of $147,586.88. Following the completion of the transaction, the chief financial officer now directly owns 42,498 shares in the company, valued at $278,786.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of The Bancorp, Inc. (NASDAQ:TBBK) traded down 0.616% on Tuesday, reaching $7.255. 49,730 shares of the company were exchanged. The Bancorp, Inc. has a 52-week low of $4.41 and a 52-week high of $8.20. The company’s market capitalization is $404.02 million. The stock has a 50 day moving average of $6.47 and a 200-day moving average of $6.11.
The Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 27th. The bank reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 50.29% and a negative return on equity of 11.95%. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $44.26 million. On average, analysts predict that The Bancorp, Inc. will post $0.39 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of TBBK. Goldman Sachs Group Inc. raised its position in shares of The Bancorp by 55.5% in the first quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock valued at $156,000 after buying an additional 10,895 shares during the last quarter. American International Group Inc. raised its position in shares of The Bancorp by 51.8% in the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock valued at $156,000 after buying an additional 10,447 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of The Bancorp by 31.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,798 shares of the bank’s stock valued at $266,000 after buying an additional 8,087 shares during the last quarter. Sei Investments Co. raised its position in shares of The Bancorp by 380.5% in the first quarter. Sei Investments Co. now owns 54,902 shares of the bank’s stock valued at $280,000 after buying an additional 43,475 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of The Bancorp during the fourth quarter valued at $500,000. Institutional investors own 76.98% of the company’s stock.
TBBK has been the topic of a number of research reports. TheStreet lowered shares of The Bancorp from a “c-” rating to a “d” rating in a research note on Monday, April 24th. BTIG Research raised shares of The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note 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 price target on the stock in a research note on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The Bancorp presently has an average rating of “Hold” and an average target price of $7.35.
The Bancorp Company Profile
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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