Jeffrey A. Nager Acquires 5,000 Shares of The Bancorp, Inc. (TBBK) Stock
The Bancorp, Inc. (NASDAQ:TBBK) EVP Jeffrey A. Nager purchased 5,000 shares of The Bancorp stock in a transaction dated Thursday, August 31st. The shares were purchased at an average cost of $7.82 per share, for a total transaction of $39,100.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $78,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The Bancorp, Inc. (NASDAQ TBBK) remained flat at $7.85 during mid-day trading on Friday. 317,272 shares of the company traded hands. The firm’s 50 day moving average is $7.66 and its 200 day moving average is $6.37. The Bancorp, Inc. has a 12 month low of $4.41 and a 12 month high of $8.20. The stock’s market capitalization is $437.69 million.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The company had revenue of $45.39 million for the quarter, compared to the consensus estimate of $42.40 million. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. Analysts predict that The Bancorp, Inc. will post $0.48 EPS for the current fiscal year.
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TBBK has been the topic of several analyst reports. Zacks Investment Research raised shares of The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, June 7th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $6.50 price target on shares of The Bancorp in a research report on Friday, July 14th. Raymond James Financial, Inc. raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. BidaskClub lowered shares of The Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, TheStreet raised shares of The Bancorp from a “d+” rating to a “c-” rating in a research report on Tuesday, June 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The Bancorp presently has a consensus rating of “Buy” and an average price target of $7.75.
A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in The Bancorp by 2.0% in the first quarter. Wellington Management Group LLP now owns 5,241,020 shares of the bank’s stock worth $26,729,000 after buying an additional 104,306 shares in the last quarter. Second Curve Capital LLC increased its position in The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock worth $15,991,000 after buying an additional 735,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in The Bancorp by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,687,237 shares of the bank’s stock worth $20,370,000 after buying an additional 233,451 shares in the last quarter. Wells Fargo & Company MN increased its position in The Bancorp by 4.4% in the first quarter. Wells Fargo & Company MN now owns 2,466,233 shares of the bank’s stock worth $12,578,000 after buying an additional 102,883 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in The Bancorp by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock worth $10,646,000 after buying an additional 90,800 shares in the last quarter. 74.94% of the stock is currently owned by institutional investors.
About The Bancorp
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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