Matthew Cohn Acquires 680 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn purchased 680 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average price of $62.14 per share, for a total transaction of $42,255.20. Following the completion of the purchase, the director owned 3,655 shares in the company, valued at approximately $227,121.70. The trade was a 22.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Matthew Cohn also recently made the following trade(s):

• On Thursday, February 12th, Matthew Cohn bought 230 shares of Bancorp stock. The stock was purchased at an average cost of $56.78 per share, for a total transaction of $13,059.40.
• On Wednesday, February 11th, Matthew Cohn purchased 170 shares of Bancorp stock. The shares were purchased at an average price of $56.99 per share, with a total value of $9,688.30.

Bancorp Price Performance

NASDAQ TBBK opened at $58.57 on Friday. The company has a 50-day moving average price of $66.90 and a 200-day moving average price of $69.23. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $81.65. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.57 billion, a P/E ratio of 11.90 and a beta of 1.31.

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

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently made changes to their positions in the business. Rothschild Investment LLC raised its stake in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after purchasing an additional 235 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Bancorp during the 4th quarter valued at approximately $27,000. Bessemer Group Inc. grew its holdings in Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after buying an additional 176 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Bancorp during the second quarter valued at approximately $53,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Bancorp by 732.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after buying an additional 659 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Bancorp in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating on shares of Bancorp in a research report on Monday. Wolfe Research set a $57.00 price objective on Bancorp in a research note on Monday. Finally, Bank of America set a $60.00 target price on shares of Bancorp in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.20.

Bancorp Company Profile

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.