The Bancorp Inc. (TBBK) Trading 5.8% Higher
The Bancorp Inc. (NASDAQ:TBBK)’s share price traded up 5.8% on Tuesday . The company traded as high as $5.49 and last traded at $5.44, with a volume of 151,994 shares changing hands. The stock had previously closed at $5.14.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of The Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 5th. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of The Bancorp in a research report on Monday, July 25th. Finally, 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 on the stock in a research report on Tuesday, August 9th.
The company has a 50 day moving average of $5.52 and a 200 day moving average of $5.61. The company’s market cap is $221.77 million.
The Bancorp (NASDAQ:TBBK) last released its 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. Equities research analysts predict that The Bancorp Inc. will post ($1.03) earnings per share for the current fiscal year.
In other news, CEO Damian Kozlowski purchased 9,790 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were acquired at an average cost of $4.95 per share, with a total value of $48,460.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO John Leto purchased 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were purchased at an average cost of $5.21 per share, for a total transaction of $135,460.00. Following the completion of the transaction, the chief accounting officer now owns 26,000 shares in the company, valued at approximately $135,460. The disclosure for this purchase can be found here.
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 filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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.
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.