Maria Wainwright Sells 11,357 Shares of The Bancorp, Inc. (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the sale, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bancorp Stock Down 1.2 %

Shares of NASDAQ:TBBK opened at $49.65 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $59.26. The stock’s fifty day simple moving average is $52.26 and its 200-day simple moving average is $43.35. The company has a market capitalization of $2.43 billion, a P/E ratio of 12.54 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 39.22% and a return on equity of 26.63%. The company had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, equities research analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

TBBK has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Hedge Funds Weigh In On Bancorp

Several large investors have recently added to or reduced their stakes in TBBK. Wealth Enhancement Advisory Services LLC purchased a new position in Bancorp during the first quarter worth about $679,000. Allspring Global Investments Holdings LLC lifted its position in Bancorp by 9.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,637 shares of the bank’s stock worth $356,000 after buying an additional 941 shares during the period. BNP Paribas Financial Markets lifted 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 worth $2,404,000 after buying an additional 24,453 shares during the period. Capital Investment Counsel Inc lifted its position in Bancorp by 21.1% during the first quarter. Capital Investment Counsel Inc now owns 65,639 shares of the bank’s stock worth $2,196,000 after buying an additional 11,436 shares during the period. Finally, Whittier Trust Co. lifted its position in Bancorp by 4.6% during the first quarter. Whittier Trust Co. now owns 246,914 shares of the bank’s stock worth $8,259,000 after buying an additional 10,949 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

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.