Bancorp (NASDAQ:TBBK) EVP Sells $269,451.60 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) EVP Erika Caesar sold 4,470 shares of Bancorp stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total value of $269,451.60. Following the completion of the transaction, the executive vice president owned 32,880 shares in the company, valued at $1,982,006.40. This represents a 11.97% 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

Shares of TBBK stock traded down $0.20 on Thursday, hitting $59.83. The company had a trading volume of 534,848 shares, compared to its average volume of 584,575. The firm has a market cap of $2.50 billion, a P/E ratio of 11.64 and a beta of 1.28. The company has a 50-day moving average price of $55.96 and a 200-day moving average price of $63.12. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a twelve month low of $48.28 and a twelve month high of $81.65.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The business had revenue of $132.50 million during the quarter, compared to analysts’ expectations of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 31.71%. As a group, equities research analysts predict that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TBBK has been the subject of several research reports. Piper Sandler initiated coverage on Bancorp in a research note on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective for the company. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Finally, Bank of America set a $60.00 price objective on Bancorp in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Institutional Trading of Bancorp

Several hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new position in Bancorp in the first quarter valued at $2,699,000. Janney Montgomery Scott LLC increased its holdings in Bancorp by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock valued at $368,000 after buying an additional 267 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Bancorp by 11.8% in the first quarter. Pictet Asset Management Holding SA now owns 6,985 shares of the bank’s stock valued at $375,000 after buying an additional 739 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Bancorp in the first quarter valued at $1,010,000. Finally, SG Americas Securities LLC increased its holdings in Bancorp by 479.2% in the first quarter. SG Americas Securities LLC now owns 84,465 shares of the bank’s stock valued at $4,538,000 after buying an additional 69,881 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.