The Bancorp Inc. (TBBK) Sees Unusually-High Trading Volume on Insider Buying Activity
The Bancorp Inc. (NASDAQ:TBBK) shares saw an uptick in trading volume on Wednesday after an insider bought additional shares in the company. 160,504 shares traded hands during trading, an increase of 36% from the previous session’s volume of 118,313 shares.The stock last traded at $6.52 and had previously closed at $6.52.
Specifically, Director Michael J. Bradley acquired 10,000 shares of The Bancorp stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average cost of $5.05 per share, with a total value of $50,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Walter T. Beach acquired 180,000 shares of The Bancorp stock in a transaction that occurred on Tuesday, October 4th. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $810,000.00. Following the completion of the transaction, the director now directly owns 337,829 shares in the company, valued at $1,520,230.50. The disclosure for this purchase can be found here. 7.71% of the stock is currently owned by corporate insiders.
A number of research firms recently weighed in on TBBK. TheStreet lowered shares of The Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. 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 issued 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 company has a 50-day moving average price of $6.05 and a 200 day moving average price of $5.90. The company’s market cap is $247.51 million.
The Bancorp (NASDAQ:TBBK) last released 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. On average, equities research analysts anticipate that The Bancorp Inc. will post ($1.03) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in The Bancorp during the second quarter worth approximately $4,093,000. Fuller & Thaler Asset Management Inc. boosted its stake in The Bancorp by 19.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,195,052 shares of the company’s stock worth $13,214,000 after buying an additional 354,588 shares in the last quarter. Heartland Advisors Inc. boosted its stake in The Bancorp by 15.4% in the second quarter. Heartland Advisors Inc. now owns 750,000 shares of the company’s stock worth $4,515,000 after buying an additional 100,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in The Bancorp by 134.0% in the first quarter. Renaissance Technologies LLC now owns 163,300 shares of the company’s stock worth $934,000 after buying an additional 93,500 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in The Bancorp during the second quarter worth approximately $412,000. 77.98% of the stock is owned by institutional investors and hedge funds.
About The Bancorp
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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