The Bancorp Inc. (TBBK) Sees Unusually-High Trading Volume
The Bancorp Inc. (NASDAQ:TBBK) shares saw strong trading volume on Tuesday . 287,189 shares changed hands during trading, an increase of 220% from the previous session’s volume of 89,712 shares.The stock last traded at $4.95 and had previously closed at $5.05.
A number of brokerages have commented on TBBK. TheStreet upgraded shares of The Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Zacks Investment Research upgraded shares of The Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. BTIG Research reiterated a “buy” rating and issued a $10.00 price target on shares of The Bancorp in a research note 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 target for the company in a research note on Tuesday.
The company’s 50 day moving average price is $5.76 and its 200 day moving average price is $5.57. The stock’s market capitalization is $184.68 million.
The Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.24. On average, equities analysts expect that The Bancorp Inc. will post ($1.03) EPS for the current year.
An institutional investor recently raised its position in The Bancorp stock. Wells Fargo & Company MN increased its stake in shares of The Bancorp Inc. (NASDAQ:TBBK) by 9.0% during the fourth quarter, according to its most recent Form 13F 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 about 4.96% of The Bancorp worth $11,937,000 as of its most recent filing with the SEC.
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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