Bancorp (NASDAQ:TBBK) Stock: Insider Matthew Cohn Purchases 1,000 Shares

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were bought at an average price of $45.54 per share, for a total transaction of $45,540.00. Following the transaction, the director owned 63,111 shares of the company’s stock, valued at approximately $2,874,074.94. This represents a 1.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Bancorp Price Performance

Bancorp stock opened at $47.74 on Friday. The Bancorp, Inc. has a one year low of $45.08 and a one year high of $73.02. The business has a fifty day moving average price of $52.04 and a 200-day moving average price of $58.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $1.95 billion, a P/E ratio of 8.44 and a beta of 1.20.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.47. Bancorp had a return on equity of 34.29% and a net margin of 30.13%. The company had revenue of $135.89 million for the quarter, compared to analyst estimates of $154.86 million. As a group, equities research analysts forecast that The Bancorp, Inc. will post 5.99 EPS for the current year.

Hedge Funds Weigh In On Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its stake in Bancorp by 1,000.0% in the second quarter. Squarepoint Ops LLC now owns 54,934 shares of the bank’s stock valued at $3,441,000 after acquiring an additional 49,940 shares during the last quarter. Congress Asset Management Co. raised its position in Bancorp by 21.3% during the third quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock valued at $16,740,000 after purchasing an additional 61,054 shares in the last quarter. Bank of America Corp DE lifted its stake in Bancorp by 104.5% during the first quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock worth $22,922,000 after purchasing an additional 218,038 shares during the last quarter. Kendall Capital Management bought a new stake in Bancorp during the second quarter worth about $1,014,000. Finally, Principal Financial Group Inc. lifted its stake in Bancorp by 8.3% during the first quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock worth $18,955,000 after purchasing an additional 27,058 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TBBK has been the topic of several analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research report on Tuesday. DA Davidson set a $64.00 price objective on shares of Bancorp in a research report on Tuesday, October 20th. Zacks Research cut shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Stephens reaffirmed an “equal weight” rating and set a $59.00 target price on shares of Bancorp in a report on Wednesday, October 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 target price on shares of Bancorp in a research note on Tuesday, October 20th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $63.88.

About Bancorp

The Bancorp, Inc (NASDAQ:TBBK) is a financial technology-focused bank holding company headquartered in Wilmington, Delaware. Through its principal subsidiary, The Bancorp Bank, N.A., the company provides banking and payment services primarily through partnerships with fintech companies, businesses, and other institutional clients rather than through a traditional branch network.

The company’s services include payment processing, prepaid and debit card programs, card issuance, automated clearing house (ACH) and other electronic payment solutions, deposit accounts, and commercial lending.