The Bancorp Inc. (TBBK) Trading 3.1% Higher After Insider Buying Activity
Shares of The Bancorp Inc. (NASDAQ:TBBK) traded up 3.1% during trading on Thursday following insider buying activity. The company traded as high as $6.74 and last traded at $6.74, with a volume of 79,252 shares traded. The stock had previously closed at $6.54.
Specifically, Director Walter T. Beach acquired 180,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were acquired at an average price of $4.50 per share, for a total transaction of $810,000.00. Following the completion of the purchase, the director now owns 337,829 shares in the company, valued at $1,520,230.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Damian Kozlowski acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was purchased at an average price of $4.50 per share, for a total transaction of $225,000.00. Following the purchase, the chief executive officer now owns 350,000 shares of the company’s stock, valued at approximately $1,575,000. The disclosure for this purchase can be found here. 7.71% of the stock is owned by insiders.
TBBK has been the topic of several research analyst reports. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of The Bancorp in a research note on Monday, July 25th. Zacks Investment Research upgraded The Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. TheStreet downgraded The Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. Finally, Raymond James Financial Inc. upgraded The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 target price on the stock in a research report on Tuesday, August 9th.
The stock has a 50 day moving average of $6.09 and a 200-day moving average of $5.90. The company’s market cap is $255.45 million.
The Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.24. Analysts forecast that The Bancorp Inc. will post ($1.03) EPS for the current year.
Hedge funds have recently bought and sold shares of the company. BlackRock Advisors LLC increased its stake in The Bancorp by 1.4% in the second quarter. BlackRock Advisors LLC now owns 16,668 shares of the company’s stock worth $100,000 after buying an additional 235 shares during the period. American International Group Inc. increased its stake in The Bancorp by 2.2% in the second quarter. American International Group Inc. now owns 20,179 shares of the company’s stock worth $121,000 after buying an additional 436 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in The Bancorp during the first quarter worth $125,000. Alliancebernstein L.P. increased its stake in The Bancorp by 16.8% in the second quarter. Alliancebernstein L.P. now owns 20,900 shares of the company’s stock worth $126,000 after buying an additional 3,000 shares during the period. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in The Bancorp during the second quarter worth $152,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
The Bancorp Company Profile
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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