Bancorp (NASDAQ:TBBK) CMO Maria Wainwright Sells 8,400 Shares

The Bancorp, Inc. (NASDAQ:TBBK) CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the sale, the chief marketing officer owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bancorp Trading Down 0.3%

Shares of Bancorp stock traded down $0.20 on Thursday, reaching $59.83. 534,848 shares of the company’s stock were exchanged, compared to its average volume of 584,575. The company has a market capitalization of $2.50 billion, a P/E ratio of 11.64 and a beta of 1.28. The Bancorp, Inc. has a 52 week low of $48.28 and a 52 week high of $81.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89. The firm’s 50-day moving average is $55.96 and its two-hundred day moving average is $63.12.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $132.50 million for the quarter, compared to the consensus estimate of $189.17 million. Bancorp had a net margin of 31.71% and a return on equity of 30.56%. Sell-side analysts predict that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TBBK. Bank of America set a $60.00 target price on Bancorp in a research note on Wednesday, January 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Piper Sandler began coverage on Bancorp in a research note on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Institutional Investors Weigh In On Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after acquiring an additional 455,265 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Bancorp by 148.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock worth $27,227,000 after purchasing an additional 241,058 shares during the last quarter. Nantahala Capital Management LLC raised its stake in shares of Bancorp by 25.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock worth $72,360,000 after purchasing an additional 219,351 shares during the last quarter. Penn Capital Management Company LLC bought a new position in shares of Bancorp in the third quarter valued at approximately $13,422,000. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Bancorp by 306.6% in the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock valued at $15,672,000 after purchasing an additional 157,796 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

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.