Bancorp (NASDAQ:TBBK) Reaches New 1-Year High – Time to Buy?

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price reached a new 52-week high on Monday . The stock traded as high as $60.13 and last traded at $59.15, with a volume of 51812 shares changing hands. The stock had previously closed at $57.42.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday.

Bancorp Price Performance

The stock has a market cap of $2.82 billion, a PE ratio of 14.86 and a beta of 1.46. The business has a fifty day simple moving average of $53.88 and a two-hundred day simple moving average of $46.19. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

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). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. During the same period in the previous year, the company earned $0.92 earnings per share. Research analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

Several institutional investors and hedge funds have recently modified their holdings of TBBK. GAMMA Investing LLC boosted its stake in Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after purchasing an additional 291 shares in the last quarter. Blue Trust Inc. increased its stake in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Bancorp in the third quarter worth about $54,000. EverSource Wealth Advisors LLC grew 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 buying an additional 1,272 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after buying an additional 741 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

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.