Bancorp (NASDAQ:TBBK) EVP Sells $239,310.00 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $53.18, for a total transaction of $239,310.00. Following the sale, the executive vice president owned 150,516 shares of the company’s stock, valued at approximately $8,004,440.88. This represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Bancorp Trading Down 1.5%

TBBK opened at $52.35 on Thursday. The firm has a 50 day simple moving average of $60.59 and a 200 day simple moving average of $67.21. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 10.64 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data 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 net margin of 25.94% and a return on equity of 28.91%. The business had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Trading of Bancorp

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Bancorp by 98.2% during the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock worth $4,052,000 after acquiring an additional 37,993 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Bancorp by 15.9% in the first quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after acquiring an additional 2,296 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Bancorp by 1.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock worth $1,436,000 after purchasing an additional 518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Bancorp by 6.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock worth $7,795,000 after purchasing an additional 8,454 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Bancorp by 145.8% during the 1st quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock valued at $6,773,000 after purchasing an additional 76,027 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

TBBK has been the subject of a number of analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Zacks Research lowered Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. Finally, Piper Sandler assumed coverage on shares of Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.50.

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.