Bancorp (NASDAQ:TBBK) CFO Purchases $49,600.00 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso acquired 800 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was purchased at an average cost of $62.00 per share, with a total value of $49,600.00. Following the purchase, the chief financial officer owned 4,500 shares of the company’s stock, valued at $279,000. The trade was a 21.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Bancorp Trading Down 2.1%

TBBK opened at $55.85 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. The stock’s 50 day moving average price is $67.04 and its 200-day moving average price is $69.26. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 11.35 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The business had revenue of $132.21 million for the quarter, compared to the consensus estimate of $101.10 million. On average, equities analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Hedge Funds Weigh In On Bancorp

Several institutional investors have recently bought and sold shares of TBBK. Invesco Ltd. lifted its holdings in Bancorp by 4.8% during the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock worth $208,327,000 after buying an additional 126,302 shares during the period. American Century Companies Inc. increased its holdings in shares of Bancorp by 3.3% in the 2nd quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock valued at $154,705,000 after acquiring an additional 86,721 shares during the period. Geode Capital Management LLC raised its position in shares of Bancorp by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,373,686 shares of the bank’s stock worth $78,266,000 after acquiring an additional 7,405 shares in the last quarter. Owls Nest Partners IA LLC lifted its stake in shares of Bancorp by 6.4% during the 2nd quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank’s stock worth $72,090,000 after purchasing an additional 75,635 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Bancorp by 11.5% during the second quarter. Franklin Resources Inc. now owns 1,112,816 shares of the bank’s stock valued at $63,397,000 after purchasing an additional 114,846 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on TBBK shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Bank of America set a $60.00 target price on shares of Bancorp in a research report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $58.20.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.