The Bancorp Inc. (TBBK) Shares Up 1%
The Bancorp Inc. (NASDAQ:TBBK) shares shot up 1% during trading on Wednesday . The stock traded as high as $6.23 and last traded at $6.18, with a volume of 86,548 shares traded. The stock had previously closed at $6.12.
Several brokerages have recently commented on TBBK. Zacks Investment Research cut shares of The Bancorp from a “hold” rating to a “strong sell” rating in a report on Thursday, August 4th. BTIG Research reaffirmed a “buy” rating and set a $10.00 target price on shares of The Bancorp in a report on Monday, July 25th. Raymond James Financial Inc. raised shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price on the stock in a report on Tuesday, August 9th. Finally, TheStreet lowered shares of The Bancorp from a “hold” rating to a “sell” rating in a research report on Monday.
The stock has a 50 day moving average of $5.54 and a 200-day moving average of $5.68. The stock’s market cap is $234.26 million.
The Bancorp (NASDAQ:TBBK) last released 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. Equities research analysts forecast that The Bancorp Inc. will post ($1.03) earnings per share for the current fiscal year.
In related news, CAO John Leto bought 26,000 shares of the company’s stock in a transaction 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 purchase, the chief accounting officer now directly owns 26,000 shares in the company, valued at $135,460. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Damian Kozlowski bought 9,790 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was bought 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.
A hedge fund recently raised its stake in The Bancorp stock. Wells Fargo & Company MN increased its position in shares of The Bancorp Inc. (NASDAQ:TBBK) by 9.0% during the fourth quarter, according to its most recent 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 about 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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