Insider Buying: Bancorp (NASDAQ:TBBK) CFO Acquires 1,700 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso bought 1,700 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $64.64 per share, for a total transaction of $109,888.00. Following the transaction, the chief financial officer owned 1,700 shares of the company’s stock, valued at approximately $109,888. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Bancorp Price Performance

Shares of TBBK stock traded down $0.58 on Friday, reaching $61.54. The company had a trading volume of 476,012 shares, compared to its average volume of 600,621. The business’s 50-day moving average is $73.71 and its 200 day moving average is $64.59. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.70 billion, a PE ratio of 13.23 and a beta of 1.34.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.16). The company had revenue of $134.82 million for the quarter, compared to the consensus estimate of $99.60 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Equities research analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analysts Set New Price Targets

TBBK has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price target on shares of Bancorp in a research note on Friday, July 18th. Oppenheimer reiterated an “outperform” rating on shares of Bancorp in a research report on Friday, July 18th. Finally, Weiss Ratings cut Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently made changes to their positions in TBBK. Hsbc Holdings PLC raised its holdings in Bancorp by 158.7% during the 1st quarter. Hsbc Holdings PLC now owns 17,991 shares of the bank’s stock worth $946,000 after purchasing an additional 11,037 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Bancorp in the 1st quarter valued at $673,000. Capital Fund Management S.A. acquired a new stake in shares of Bancorp during the first quarter worth $999,000. Nuveen LLC bought a new position in Bancorp during the first quarter worth $11,417,000. Finally, Cerity Partners LLC raised its stake in Bancorp by 11.9% during the first quarter. Cerity Partners LLC now owns 27,450 shares of the bank’s stock worth $1,450,000 after buying an additional 2,912 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.