Insider Buying: The Bancorp, Inc. (NASDAQ:TBBK) Director Purchases 545 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Bancorp Stock Performance

Shares of Bancorp stock traded down $1.16 on Tuesday, hitting $49.03. 597,829 shares of the company’s stock were exchanged, compared to its average volume of 626,194. The company has a 50-day simple moving average of $52.20 and a 200-day simple moving average of $43.13. The stock has a market capitalization of $2.40 billion, a PE ratio of 12.38 and a beta of 1.45. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $59.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 39.22%. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, equities analysts anticipate that The Bancorp, Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TBBK. Nantahala Capital Management LLC purchased a new position in shares of Bancorp during the 2nd quarter worth $12,757,000. Jupiter Asset Management Ltd. raised its position in shares of Bancorp by 71.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after purchasing an additional 164,855 shares during the period. Marshall Wace LLP raised its position in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after purchasing an additional 96,072 shares during the period. Jane Street Group LLC raised its position in shares of Bancorp by 129.0% during the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Bancorp by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after purchasing an additional 70,178 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

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.