Insider Selling: Bancorp (NASDAQ:TBBK) EVP Sells 4,500 Shares of Stock

by · The Markets Daily

The Bancorp, Inc. (NASDAQ:TBBK – Get Free Report) EVP Ryan Harris sold 4,500 shares of Bancorp stock in a transaction on Friday, March 13th. The shares were sold at an average price of $53.18, for a total value of $239,310.00. Following the completion of the transaction, the executive vice president directly owned 150,516 shares of the company’s stock, valued at $8,004,440.88. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bancorp Price Performance

Shares of NASDAQ:TBBK traded down $0.46 during trading on Monday, reaching $53.09. 355,494 shares of the company traded hands, compared to its average volume of 647,532. The firm has a market capitalization of $2.24 billion, a PE ratio of 10.79 and a beta of 1.31. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $81.65. 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 company’s 50 day moving average is $61.58 and its two-hundred day moving average is $67.66.

Bancorp (NASDAQ:TBBK – Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The company had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. As a group, sell-side analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Summit Global Investments acquired a new stake in shares of Bancorp during the 4th quarter valued at $246,000. EP Wealth Advisors LLC bought a new stake in Bancorp during the 4th quarter worth $222,000. XTX Topco Ltd acquired a new position in Bancorp in the 4th quarter worth about $3,748,000. Twinbeech Capital LP bought a new position in Bancorp in the fourth quarter valued at about $205,000. Finally, Numerai GP LLC bought a new position in Bancorp in the fourth quarter valued at about $215,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TBBK has been the subject of several analyst reports. Zacks Research cut shares of Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Piper Sandler assumed coverage on shares of Bancorp in a research report on Thursday. They set an “overweight” rating and a $66.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. Wolfe Research set a $57.00 price objective on shares of Bancorp in a research report on Monday, February 9th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Get Our Latest Stock Report on TBBK

About Bancorp

(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.

Featured Stories