Dominic Canuso Buys 800 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso bought 800 shares of the stock in a transaction on Monday, February 9th. The shares were bought at an average cost of $62.00 per share, with a total value of $49,600.00. Following the purchase, the chief financial officer owned 4,500 shares of the company’s stock, valued at $279,000. This trade represents a 21.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bancorp Trading Down 4.3%

Shares of TBBK stock traded down $2.67 during trading hours on Tuesday, hitting $59.38. The company had a trading volume of 502,414 shares, compared to its average volume of 673,324. The stock has a market capitalization of $2.61 billion, a PE ratio of 12.07 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65. The company’s fifty day moving average is $67.44 and its 200 day moving average is $69.44.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.18). The business had revenue of $132.21 million during the quarter, compared to analysts’ expectations of $101.10 million. Bancorp had a net margin of 26.15% and a return on equity of 28.91%. Research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in Bancorp by 273.2% during the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after acquiring an additional 455,265 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Bancorp by 148.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock valued at $27,227,000 after buying an additional 241,058 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in Bancorp during the third quarter worth about $13,422,000. Epoch Investment Partners Inc. increased its stake in Bancorp by 306.6% during the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock valued at $15,672,000 after acquiring an additional 157,796 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Bancorp by 43.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank’s stock worth $34,279,000 after acquiring an additional 154,539 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TBBK has been the subject of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Wolfe Research set a $57.00 price target on Bancorp in a research note on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 target price on shares of Bancorp in a report on Wednesday, January 21st. Zacks Research cut Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.20.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.