The Bancorp Inc. (TBBK) Shares Up 5.8%
Shares of The Bancorp Inc. (NASDAQ:TBBK) shot up 5.8% during trading on Tuesday . The stock traded as high as $5.49 and last traded at $5.44, with a volume of 151,994 shares trading hands. The stock had previously closed at $5.14.
Several brokerages have commented on TBBK. Raymond James Financial Inc. upgraded shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 price objective for the company in a research note on Tuesday, August 9th. Zacks Investment Research cut shares of The Bancorp from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 4th. Finally, BTIG Research restated a “buy” rating and set a $10.00 price objective on shares of The Bancorp in a research note on Monday, July 25th.
The stock’s market capitalization is $210.04 million. The stock’s 50-day moving average is $5.51 and its 200-day moving average is $5.60.
The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.24. On average, equities analysts anticipate that The Bancorp Inc. will post ($1.03) earnings per share for the current year.
In other The Bancorp news, Director Michael J. Bradley bought 10,000 shares of the stock in a transaction dated Wednesday, August 17th. The shares were acquired at an average cost of $5.05 per share, for a total transaction of $50,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Damian Kozlowski bought 9,790 shares of the stock in a transaction dated Wednesday, August 10th. The shares were acquired at an average price of $4.95 per share, for a total transaction of $48,460.50. The disclosure for this purchase can be found here.
An institutional investor recently raised its position 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 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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.
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