Bancorp (NASDAQ:TBBK) Reaches New 12-Month High – Here’s What Happened

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $59.41 and last traded at $58.35, with a volume of 707611 shares changing hands. The stock had previously closed at $54.59.

Analyst Ratings Changes

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

Bancorp Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a market capitalization of $2.72 billion, a P/E ratio of 14.35 and a beta of 1.46. The stock’s fifty day simple moving average is $52.74 and its two-hundred day simple moving average is $44.73.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, research analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity

In related news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. GAMMA Investing LLC grew its stake in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after buying an additional 291 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 worth $55,000 after purchasing an additional 1,272 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares during the period. Finally, US Bancorp DE purchased a new position in shares of Bancorp during the 3rd quarter worth about $83,000. Hedge funds and other institutional investors 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.