The Bancorp Inc. (TBBK) Sees Large Volume Increase
The Bancorp Inc. (NASDAQ:TBBK) saw strong trading volume on Monday . 145,836 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 119,127 shares.The stock last traded at $4.99 and had previously closed at $4.90.
A number of analysts have issued reports on the company. Zacks Investment Research raised The Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 5th. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of The Bancorp in a research report on Monday, July 25th. Finally, Raymond James Financial Inc. raised The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price on the stock in a research report on Tuesday, August 9th.
The firm has a 50 day moving average price of $5.62 and a 200-day moving average price of $5.58. The company’s market cap is $184.68 million.
The Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.24. On average, equities research analysts forecast that The Bancorp Inc. will post ($1.03) EPS for the current fiscal year.
In other The Bancorp news, CEO Damian Kozlowski acquired 9,790 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $4.95 per share, with a total value of $48,460.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
A hedge fund recently raised its stake in The Bancorp stock. Wells Fargo & Company MN raised its position in The Bancorp Inc. (NASDAQ:TBBK) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,873,983 shares of the company’s stock after buying an additional 154,574 shares during the period. Wells Fargo & Company MN owned 4.96% of The Bancorp worth $11,937,000 at the end of the most recent quarter.
The Bancorp, Inc is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank). The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The Company operates through three segments: specialty finance, payments and corporate.
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