The Bancorp, Inc. (NASDAQ:TBBK) EVP Matthew J. Wallace Sells 10,160 Shares

The Bancorp, Inc. (NASDAQ:TBBK) EVP Matthew J. Wallace sold 10,160 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the sale, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at $3,744,387.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bancorp Stock Down 0.3 %

Shares of TBBK opened at $50.26 on Friday. 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 12 month low of $29.92 and a 12 month high of $59.26. The firm’s 50 day moving average is $52.25 and its 200-day moving average is $43.31. The stock has a market capitalization of $2.46 billion, a PE ratio of 12.69 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 39.22%. During the same quarter last year, the business earned $0.92 EPS. Equities research analysts forecast that The Bancorp, Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TBBK. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler lifted 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TBBK. Entropy Technologies LP increased its holdings in Bancorp by 256.2% in the 1st quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock valued at $782,000 after buying an additional 16,812 shares during the period. Jane Street Group LLC boosted its position in shares of Bancorp by 129.0% during the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after acquiring an additional 70,361 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Bancorp in the first quarter valued at approximately $1,008,000. BNP Paribas Financial Markets raised its position in Bancorp by 51.6% during the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock valued at $2,404,000 after purchasing an additional 24,453 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after purchasing an additional 164,855 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Company Profile

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.