The Bancorp Inc. (TBBK) Sees Unusually-High Trading Volume
Shares of The Bancorp Inc. (NASDAQ:TBBK) saw an uptick in trading volume on Monday . 818,697 shares changed hands during trading, an increase of 65% from the previous session’s volume of 497,144 shares.The stock last traded at $6.06 and had previously closed at $6.06.
A number of brokerages have commented on TBBK. Zacks Investment Research raised shares of 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 set a $10.00 price objective on shares of The Bancorp in a research report on Monday, July 25th. Finally, Raymond James Financial Inc. raised 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 stock has a 50-day moving average price of $5.54 and a 200-day moving average price of $5.66. The company’s market cap is $229.34 million.
The Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.24. Equities analysts forecast that The Bancorp Inc. will post ($1.03) earnings per share for the current fiscal year.
In other news, CAO John Leto acquired 26,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were purchased at an average price 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 of the company’s stock, valued at $135,460. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Damian Kozlowski acquired 9,790 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was purchased 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. Ameriprise Financial Inc. boosted its position in shares of The Bancorp Inc. (NASDAQ:TBBK) by 11.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 417,652 shares of the company’s stock after buying an additional 41,771 shares during the period. Ameriprise Financial Inc. owned about 1.11% of The Bancorp worth $2,661,000 as of its most recent SEC filing.
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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