Maria Wainwright Sells 11,357 Shares of The Bancorp, Inc. (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Bancorp Trading Up 2.8 %

NASDAQ:TBBK traded up $1.39 on Wednesday, hitting $50.42. The stock had a trading volume of 572,305 shares, compared to its average volume of 625,938. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 12.79 and a beta of 1.45. The company has a fifty day moving average price of $52.22 and a two-hundred day moving average price of $43.26. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $59.26.

Bancorp (NASDAQ:TBBK) last posted its 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 net margin of 39.22% and a return on equity of 26.63%. The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Equities research analysts expect that The Bancorp, Inc. will post 4.35 earnings per share for the current fiscal year.

Institutional Trading of Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. Wealth Enhancement Advisory Services LLC acquired a new position in Bancorp during the first quarter worth $679,000. Allspring Global Investments Holdings LLC lifted its stake in Bancorp by 9.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,637 shares of the bank’s stock worth $356,000 after purchasing an additional 941 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Bancorp by 51.6% during the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock worth $2,404,000 after purchasing an additional 24,453 shares in the last quarter. Capital Investment Counsel Inc lifted its stake in Bancorp by 21.1% during the first quarter. Capital Investment Counsel Inc now owns 65,639 shares of the bank’s stock worth $2,196,000 after purchasing an additional 11,436 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in Bancorp by 4.6% during the first quarter. Whittier Trust Co. now owns 246,914 shares of the bank’s stock worth $8,259,000 after purchasing an additional 10,949 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

TBBK has been the subject of several research reports. Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a 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.