Bancorp (NASDAQ:TBBK) Director Matthew Cohn Acquires 1,000 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 1,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average cost of $45.54 per share, for a total transaction of $45,540.00. Following the acquisition, the director directly owned 63,111 shares of the company’s stock, valued at $2,874,074.94. The trade was a 1.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Bancorp Stock Up 1.5%

NASDAQ:TBBK opened at $47.34 on Thursday. The firm has a market capitalization of $1.93 billion, a PE ratio of 8.35 and a beta of 1.20. The stock has a 50 day moving average of $52.41 and a 200-day moving average of $58.24. The Bancorp, Inc. has a 52 week low of $45.08 and a 52 week high of $73.02. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results 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 return on equity of 34.29% and a net margin of 30.13%. The business had revenue of $135.89 million for the quarter, compared to analysts’ expectations of $154.86 million. Analysts predict that The Bancorp, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on TBBK shares. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price (down from $86.00) on shares of Bancorp in a research report on Thursday, September 17th. Zacks Research downgraded shares of Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday. Bank of America restated a “buy” rating on shares of Bancorp in a research report on Monday, July 20th. Raymond James Financial restated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Bancorp in a report on Tuesday, October 20th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.88.

Institutional Trading of Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Bancorp in the 2nd quarter valued at about $25,000. Versant Capital Management Inc lifted its holdings in Bancorp by 177.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,198 shares of the bank’s stock valued at $58,000 after acquiring an additional 766 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Bancorp by 840.4% during the 3rd quarter. Sterling Capital Management LLC now owns 1,326 shares of the bank’s stock valued at $64,000 after purchasing an additional 1,185 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Bancorp by 4,089.7% during the third quarter. Parallel Advisors LLC now owns 1,634 shares of the bank’s stock worth $79,000 after buying an additional 1,595 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Bancorp during the second quarter valued at $167,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.