Insider Buying: Bancorp (NASDAQ:TBBK) CFO Acquires $12,100.00 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso acquired 200 shares of the company’s stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $60.50 per share, for a total transaction of $12,100.00. Following the completion of the purchase, the chief financial officer directly owned 3,700 shares of the company’s stock, valued at approximately $223,850. This represents a 5.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Bancorp Stock Down 4.3%

NASDAQ:TBBK traded down $2.67 on Tuesday, hitting $59.38. The stock had a trading volume of 502,414 shares, compared to its average volume of 673,324. The stock has a market cap of $2.61 billion, a P/E ratio of 12.07 and a beta of 1.31. The firm’s fifty day simple moving average is $67.44 and its two-hundred day simple moving average is $69.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The firm had revenue of $132.21 million for 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 26.15%. Analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Trading of Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after buying an additional 455,265 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position 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 valued at $27,227,000 after acquiring an additional 241,058 shares in the last quarter. Penn Capital Management Company LLC purchased a new position in shares of Bancorp in the third quarter valued at approximately $13,422,000. Epoch Investment Partners Inc. increased its position in shares of Bancorp by 306.6% during the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock worth $15,672,000 after purchasing an additional 157,796 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Bancorp by 43.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank’s stock worth $34,279,000 after purchasing an additional 154,539 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TBBK. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Zacks Research cut Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Wolfe Research set a $57.00 price objective on Bancorp in a research note on Monday. William Blair set a $60.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. Finally, Raymond James Financial reissued 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 assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.20.

About Bancorp

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.