The Bancorp Inc. (TBBK) Shares Up 3.1% on Insider Buying Activity
The Bancorp Inc. (NASDAQ:TBBK)’s share price shot up 3.1% on Thursday after an insider bought additional shares in the company. The company traded as high as $6.74 and last traded at $6.74, with a volume of 79,252 shares changing hands. The stock had previously closed at $6.54.
Specifically, Director Walter T. Beach bought 180,000 shares of The Bancorp stock in a transaction dated Tuesday, October 4th. The shares were bought at an average price of $4.50 per share, for a total transaction of $810,000.00. Following the purchase, the director now owns 337,829 shares of the company’s stock, valued at $1,520,230.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Bradley bought 10,000 shares of The Bancorp stock in a transaction dated Wednesday, August 17th. The stock was purchased at an average price of $5.05 per share, for a total transaction of $50,500.00. The disclosure for this purchase can be found here. Company insiders own 7.71% of the company’s stock.
Several equities research analysts have recently commented on TBBK shares. Zacks Investment Research upgraded shares of The Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. TheStreet downgraded shares of The Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 29th. Raymond James Financial Inc. upgraded shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, August 9th. Finally, BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of The Bancorp in a research note on Monday, July 25th.
The company’s market cap is $253.94 million. The stock has a 50-day moving average of $6.05 and a 200 day moving average of $5.90.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.24. Analysts forecast that The Bancorp Inc. will post ($1.03) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TBBK. Emerald Acquisition Ltd. purchased a new position in The Bancorp during the second quarter valued at $4,093,000. Aristotle Capital Boston LLC boosted its position in The Bancorp by 1.3% in the second quarter. Aristotle Capital Boston LLC now owns 360,411 shares of the company’s stock valued at $2,170,000 after buying an additional 4,703 shares during the last quarter. Sippican Capital Advisors boosted its position in The Bancorp by 24.8% in the second quarter. Sippican Capital Advisors now owns 296,205 shares of the company’s stock valued at $1,783,000 after buying an additional 58,910 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in The Bancorp during the first quarter valued at $125,000. Finally, Geode Capital Management LLC boosted its position in The Bancorp by 2.4% in the first quarter. Geode Capital Management LLC now owns 251,111 shares of the company’s stock valued at $1,436,000 after buying an additional 5,952 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
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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