Bancorp (NASDAQ:TBBK) Shares Down 1.8%

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price fell 1.8% on Wednesday . The stock traded as low as $37.79 and last traded at $37.89. 73,205 shares traded hands during trading, a decline of 88% from the average session volume of 610,124 shares. The stock had previously closed at $38.57.

Analyst Ratings Changes

Several research firms have recently weighed in on TBBK. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 target price on shares of Bancorp in a report on Tuesday. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 5th.

Bancorp Stock Performance

The company has a market cap of $1.97 billion, a PE ratio of 10.48 and a beta of 1.47. The firm’s fifty day moving average is $33.39 and its 200 day moving average is $36.68. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $123.80 million during the quarter, compared to analyst estimates of $126.86 million. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, research analysts predict that The Bancorp, Inc. will post 4.51 EPS for the current fiscal year.

Insider Transactions at Bancorp

In other news, Director Cheryl Creuzot sold 766 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the completion of the sale, the director now owns 7,638 shares of the company’s stock, valued at $249,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Cheryl Creuzot sold 766 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the completion of the sale, the director now owns 7,638 shares of the company’s stock, valued at $249,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer F. Terry sold 11,256 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the sale, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The disclosure for this sale can be found here. Insiders acquired 1,706 shares of company stock valued at $54,962 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted 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 acquiring an additional 291 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after acquiring an additional 1,272 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Bancorp during the 4th quarter valued at about $115,000. Summit Asset Management LLC acquired a new position in shares of Bancorp during the 4th quarter valued at about $202,000. Finally, SG Americas Securities LLC acquired a new position in shares of Bancorp during the 4th quarter valued at about $224,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

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.