Bancorp (NASDAQ:TBBK) Stock Price Up 3.6%

The Bancorp, Inc. (NASDAQ:TBBK) rose 3.6% on Thursday . The stock traded as high as $50.93 and last traded at $50.79. Approximately 5,165 shares changed hands during trading, a decline of 99% from the average daily volume of 628,404 shares. The stock had previously closed at $49.01.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TBBK shares. Piper Sandler increased their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

Bancorp Trading Up 5.5 %

The company has a market capitalization of $2.73 billion, a P/E ratio of 14.20 and a beta of 1.47. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $44.13 and its 200 day moving average price is $38.47.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The company had revenue of $124.52 million for the quarter, compared to the consensus estimate of $127.45 million. As a group, equities research analysts predict that The Bancorp, Inc. will post 4.42 earnings per share for the current year.

Insider Buying and Selling at Bancorp

In other news, Director Cheryl Creuzot sold 766 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $32.64, for a total value of $25,002.24. Following the completion of the sale, the director now owns 7,638 shares in the company, valued at $249,304.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

A number of institutional investors have recently added to or reduced their stakes in TBBK. The Manufacturers Life Insurance Company boosted its holdings in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after buying an additional 234 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Bancorp by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 20,853 shares of the bank’s stock valued at $804,000 after purchasing an additional 269 shares during the period. GAMMA Investing LLC grew its position in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Bancorp by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock worth $2,251,000 after purchasing an additional 302 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Bancorp by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 28,396 shares of the bank’s stock worth $1,095,000 after acquiring an additional 319 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.