Walter T. Beach Sells 33,640 Shares of Bancorp Inc (TBBK) Stock
Bancorp Inc (NASDAQ:TBBK) Director Walter T. Beach sold 33,640 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $6.26, for a total transaction of $210,586.40. Following the completion of the sale, the director now directly owns 362,829 shares of the company’s stock, valued at approximately $2,271,309.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Bancorp Inc (NASDAQ:TBBK) traded down 1.45% during midday trading on Monday, hitting $6.12. 256,578 shares of the stock traded hands. The stock’s market capitalization is $340.82 million. The firm has a 50-day moving average price of $5.87 and a 200-day moving average price of $6.19. Bancorp Inc has a 52 week low of $4.41 and a 52 week high of $8.20.
Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, April 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $44.26 million. On average, equities analysts predict that Bancorp Inc will post $0.39 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sippican Capital Advisors increased its position in Bancorp by 9.5% in the first quarter. Sippican Capital Advisors now owns 368,275 shares of the bank’s stock worth $1,878,000 after buying an additional 31,900 shares during the last quarter. Teachers Advisors LLC increased its position in Bancorp by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 98,724 shares of the bank’s stock worth $776,000 after buying an additional 26,624 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Bancorp by 31.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,798 shares of the bank’s stock worth $266,000 after buying an additional 8,087 shares during the last quarter. Two Sigma Investments LP increased its position in Bancorp by 238.6% in the fourth quarter. Two Sigma Investments LP now owns 206,155 shares of the bank’s stock worth $1,620,000 after buying an additional 145,275 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new position in Bancorp during the fourth quarter worth about $500,000. Institutional investors own 67.98% of the company’s stock.
Several equities research analysts have commented on the stock. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Bancorp in a research note on Wednesday, February 1st. BTIG Research raised shares of Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Monday, May 1st. Finally, TheStreet downgraded shares of Bancorp from a “c-” rating to a “d” rating in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.44.
Bancorp Company Profile
The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).
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