The Bancorp Inc. (TBBK) Trading 3.2% Higher
Shares of The Bancorp Inc. (NASDAQ:TBBK) traded up 3.2% during trading on Wednesday . The stock traded as high as $5.10 and last traded at $5.10, with a volume of 135,782 shares trading hands. The stock had previously closed at $4.94.
Several analysts have recently commented on the company. BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of The Bancorp in a research note on Monday, July 25th. Zacks Investment Research upgraded The Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Raymond James Financial Inc. upgraded The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price for the company in a research note on Tuesday, August 9th.
The company’s market capitalization is $194.71 million. The stock’s 50-day moving average price is $5.59 and its 200-day moving average price is $5.59.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.24. Analysts expect that The Bancorp Inc. will post ($1.03) earnings per share for the current fiscal year.
In other The Bancorp news, CEO Damian Kozlowski purchased 9,790 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
An institutional investor recently raised its position in The Bancorp stock. Wells Fargo & Company MN boosted its stake in shares of The Bancorp Inc. (NASDAQ:TBBK) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 approximately 4.96% of The Bancorp worth $11,937,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.