Bancorp (NASDAQ:TBBK) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

by · The Cerbat Gem

Bancorp (NASDAQ:TBBKGet Free Report) issued its quarterly earnings data on Thursday. The bank reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06, Zacks reports. Bancorp had a net margin of 25.94% and a return on equity of 28.91%.

Bancorp Stock Up 0.5%

NASDAQ TBBK traded up $0.30 on Thursday, hitting $60.47. 433,669 shares of the stock traded hands, compared to its average volume of 586,958. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $55.81 and a 200 day moving average of $63.70. Bancorp has a twelve month low of $46.51 and a twelve month high of $81.65. The company has a market capitalization of $2.53 billion, a P/E ratio of 12.29 and a beta of 1.28.

Insider Transactions at Bancorp

In other Bancorp news, Director Matthew Cohn acquired 680 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was purchased at an average price of $62.14 per share, with a total value of $42,255.20. Following the completion of the acquisition, the director directly owned 3,655 shares in the company, valued at $227,121.70. This trade represents a 22.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ryan Harris sold 4,500 shares of the business’s stock in a transaction on Friday, March 13th. The shares were 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. The trade was a 2.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have acquired a total of 9,080 shares of company stock valued at $548,933 over the last 90 days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new stake in Bancorp during the second quarter worth about $53,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after purchasing an additional 659 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Bancorp in the 4th quarter worth approximately $68,000. Captrust Financial Advisors acquired a new position in Bancorp during the 2nd quarter valued at approximately $202,000. Finally, Twinbeech Capital LP bought a new position in Bancorp during the 4th quarter worth $205,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TBBK. Bank of America set a $60.00 price target on Bancorp in a research note on Wednesday, January 21st. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. Wolfe Research set a $57.00 target price on Bancorp in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bancorp currently has an average rating of “Moderate Buy” and an average price target of $59.50.

Read Our Latest Research Report on Bancorp

Bancorp Company Profile

(Get Free Report)

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.

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