The Bancorp Inc. (TBBK) Director Walter T. Beach Buys 180,000 Shares of Stock
The Bancorp Inc. (NASDAQ:TBBK) Director Walter T. Beach acquired 180,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were acquired at an average cost of $4.50 per share, with a total value of $810,000.00. Following the purchase, the director now owns 337,829 shares in the company, valued at approximately $1,520,230.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of The Bancorp Inc. (NASDAQ:TBBK) opened at 6.54 on Thursday. The Bancorp Inc. has a 1-year low of $3.88 and a 1-year high of $8.20. The stock has a 50 day moving average of $6.05 and a 200 day moving average of $5.90. The stock’s market cap is $247.51 million.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.24. Equities research analysts forecast that The Bancorp Inc. will post ($1.03) EPS for the current year.
TBBK has been the subject of several research reports. Zacks Investment Research raised shares of The Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. TheStreet cut shares of The Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 29th. Raymond James Financial Inc. raised shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 price objective for the company in a research note on Tuesday, August 9th. Finally, BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of The Bancorp in a research note on Monday, July 25th.
Hedge funds have recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new stake in The Bancorp during the second quarter worth approximately $4,093,000. Aristotle Capital Boston LLC raised its stake in The Bancorp by 1.3% in the second quarter. Aristotle Capital Boston LLC now owns 360,411 shares of the company’s stock worth $2,170,000 after buying an additional 4,703 shares during the period. Sippican Capital Advisors raised its stake in The Bancorp by 24.8% in the second quarter. Sippican Capital Advisors now owns 296,205 shares of the company’s stock worth $1,783,000 after buying an additional 58,910 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in The Bancorp during the first quarter worth about $125,000. Finally, Geode Capital Management LLC raised its stake in The Bancorp by 2.4% in the first quarter. Geode Capital Management LLC now owns 251,111 shares of the company’s stock worth $1,436,000 after buying an additional 5,952 shares during the period. 77.98% of the stock is owned by institutional investors.
About The Bancorp
The Bancorp, Inc is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank). The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The Company operates through three segments: specialty finance, payments and corporate.
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