The Bancorp, Inc. (NASDAQ:TBBK) EVP Sells $267,997.98 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares in the company, valued at $3,584,779.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Bancorp Stock Performance

TBBK traded up $7.97 on Wednesday, reaching $57.30. 1,114,989 shares of the stock were exchanged, compared to its average volume of 626,901. The company’s 50-day moving average price is $52.14 and its 200 day moving average price is $43.85. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $59.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $2.81 billion, a PE ratio of 14.10 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 39.22%. The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period in the prior year, the firm posted $0.92 EPS. As a group, sell-side analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Bancorp

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after acquiring an additional 1,272 shares during the last quarter. US Bancorp DE acquired a new position in shares of Bancorp during the third quarter valued at approximately $83,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Bancorp during the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TBBK. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler raised their price objective on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.