Bancorp (NASDAQ:TBBK) EVP Ryan Harris Sells 4,500 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) EVP Ryan Harris sold 4,500 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $48.27, for a total value of $217,215.00. Following the completion of the transaction, the executive vice president owned 146,016 shares in the company, valued at $7,048,192.32. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bancorp Price Performance

Shares of NASDAQ TBBK traded up $1.54 during mid-day trading on Monday, reaching $49.79. The company’s stock had a trading volume of 611,744 shares, compared to its average volume of 522,124. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.87. The Bancorp, Inc. has a 52 week low of $45.08 and a 52 week high of $73.02. The stock has a fifty day moving average of $51.68 and a two-hundred day moving average of $58.04. The firm has a market capitalization of $2.03 billion, a PE ratio of 8.78 and a beta of 1.20.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.47. Bancorp had a return on equity of 34.29% and a net margin of 28.50%. The company had revenue of $135.89 million for the quarter, compared to the consensus estimate of $154.86 million. As a group, sell-side analysts anticipate that The Bancorp, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TBBK shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Bancorp in a report on Tuesday, October 20th. Bank of America reissued a “buy” rating on shares of Bancorp in a report on Monday, July 20th. Raymond James Financial reissued an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a report on Tuesday, November 3rd. DA Davidson set a $64.00 target price on Bancorp in a report on Tuesday, October 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $62.00 target price (down from $75.00) on shares of Bancorp in a research report on Monday. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in shares of Bancorp by 19.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,084,992 shares of the bank’s stock worth $58,296,000 after buying an additional 172,925 shares in the last quarter. Bank of America Corp DE raised its position in Bancorp by 104.5% during the first quarter. Bank of America Corp DE now owns 426,613 shares of the bank’s stock valued at $22,922,000 after purchasing an additional 218,038 shares during the period. Principal Financial Group Inc. raised its position in Bancorp by 8.3% during the first quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock valued at $18,955,000 after purchasing an additional 27,058 shares during the period. Congress Asset Management Co. lifted its stake in shares of Bancorp by 21.3% in the 3rd quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock valued at $16,740,000 after purchasing an additional 61,054 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Bancorp in the 1st quarter valued at approximately $15,063,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

About Bancorp

The Bancorp, Inc is a financial holding company based in Wilmington, Delaware. Through its subsidiary, The Bancorp Bank, National Association, it provides banking and financial services primarily to businesses and other organizations rather than operating a traditional branch-focused consumer bank.

The company’s services include payment and card programs, such as prepaid and debit card solutions, along with payment processing and banking services for fintech companies and other partners.