The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn Buys 545 Shares

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 545 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the transaction, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $49.03 on Wednesday. The firm has a 50-day moving average of $52.20 and a two-hundred day moving average of $43.13. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 12.38 and a beta of 1.45. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.26.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, analysts expect that The Bancorp, Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Bancorp

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of Bancorp by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after purchasing an additional 234 shares during the period. Blue Trust Inc. raised its holdings in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the period. GAMMA Investing LLC lifted its stake in Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Bancorp by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after buying an additional 302 shares in the last quarter. Finally, Legend Financial Advisors Inc. boosted its holdings in shares of Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after buying an additional 380 shares during the period. 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.