Matthew Cohn Acquires 230 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn acquired 230 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $56.78 per share, with a total value of $13,059.40. Following the completion of the transaction, the director directly owned 2,675 shares in the company, valued at $151,886.50. The trade was a 9.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matthew Cohn also recently made the following trade(s):

• On Wednesday, February 11th, Matthew Cohn acquired 170 shares of Bancorp stock. The shares were bought at an average cost of $56.99 per share, for a total transaction of $9,688.30.
• On Tuesday, February 10th, Matthew Cohn purchased 680 shares of Bancorp stock. The shares were purchased at an average price of $62.14 per share, for a total transaction of $42,255.20.

Bancorp Stock Performance

Shares of NASDAQ:TBBK traded down $1.19 during trading on Thursday, hitting $55.85. The stock had a trading volume of 652,359 shares, compared to its average volume of 734,019. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 11.35 and a beta of 1.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $67.24 and a two-hundred day simple moving average of $69.36.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its stake in Bancorp by 4.8% during the 3rd 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 in the last quarter. American Century Companies Inc. lifted its position in shares of Bancorp by 3.3% in the second 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bancorp by 0.5% in the second 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 during the last quarter. Owls Nest Partners IA LLC increased its position in shares of Bancorp by 6.4% during the second 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 in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Bancorp by 11.5% during the second quarter. Franklin Resources Inc. now owns 1,112,816 shares of the bank’s stock worth $63,397,000 after purchasing an additional 114,846 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

TBBK has been the topic of several analyst reports. Zacks Research lowered Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Wolfe Research set a $57.00 price target on shares of Bancorp in a report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Bancorp in a report on Monday. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.20.

About Bancorp

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.