Frenkiel Paul Acquires 10,000 Shares of The Bancorp Inc. (TBBK) Stock
The Bancorp Inc. (NASDAQ:TBBK) CFO Frenkiel Paul acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, October 4th. The stock was purchased at an average cost of $4.50 per share, with a total value of $45,000.00. Following the completion of the purchase, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $90,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of The Bancorp Inc. (NASDAQ:TBBK) opened at 6.75 on Friday. The firm’s 50-day moving average price is $6.09 and its 200-day moving average price is $5.90. The Bancorp Inc. has a one year low of $3.88 and a one year high of $8.20. The stock’s market capitalization is $255.45 million.
The Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.24. Equities research analysts anticipate that The Bancorp Inc. will post ($1.03) EPS for the current fiscal year.
A number of research firms recently issued reports on TBBK. Zacks Investment Research upgraded The Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 5th. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of The Bancorp in a report on Monday, July 25th. Raymond James Financial Inc. upgraded The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price for the company in a report on Tuesday, August 9th. Finally, TheStreet lowered The Bancorp from a “hold” rating to a “sell” rating in a report on Monday, August 29th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of The Bancorp by 19.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,195,052 shares of the company’s stock worth $13,214,000 after buying an additional 354,588 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in The Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,908,806 shares of the company’s stock worth $11,491,000 after buying an additional 24,480 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in The Bancorp by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,051,833 shares of the company’s stock worth $6,332,000 after buying an additional 22,189 shares during the last quarter. BlackRock Fund Advisors increased its stake in The Bancorp by 3.7% in the second quarter. BlackRock Fund Advisors now owns 904,254 shares of the company’s stock worth $5,444,000 after buying an additional 32,458 shares during the last quarter. Finally, Heartland Advisors Inc. increased its stake in The Bancorp by 15.4% in the second quarter. Heartland Advisors Inc. now owns 750,000 shares of the company’s stock worth $4,515,000 after buying an additional 100,000 shares during the last quarter. 77.98% of the stock is currently 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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