Bancorp (NASDAQ:TBBK) Sees Unusually-High Trading Volume

The Bancorp, Inc. (NASDAQ:TBBKGet Free Report) saw an uptick in trading volume on Thursday . 1,029,353 shares traded hands during trading, an increase of 81% from the previous session’s volume of 567,589 shares.The stock last traded at $33.95 and had previously closed at $35.75.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TBBK. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Raymond James raised their price target on Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Piper Sandler raised their price target on Bancorp from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 21st.

Read Our Latest Stock Analysis on Bancorp

Bancorp Trading Down 10.3 %

The business has a 50 day simple moving average of $41.00 and a 200-day simple moving average of $38.45. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 9.16 and a beta of 1.48. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBKGet Free Report) last announced its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The firm had revenue of $119.15 million during the quarter, compared to analyst estimates of $118.52 million. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. On average, equities analysts predict that The Bancorp, Inc. will post 4.42 earnings per share for the current year.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Daniela Mielke purchased 3,315 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was bought at an average cost of $45.13 per share, with a total value of $149,605.95. Following the acquisition, the director now owns 26,715 shares of the company’s stock, valued at $1,205,647.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniela Mielke purchased 3,315 shares of Bancorp stock in a transaction dated Wednesday, January 31st. The stock was acquired at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the transaction, the director now directly owns 26,715 shares of the company’s stock, valued at $1,205,647.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Cohn acquired 2,485 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $34.21 per share, for a total transaction of $85,011.85. Following the acquisition, the director now directly owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. In the last three months, insiders acquired 7,800 shares of company stock valued at $308,838. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Bancorp

Several hedge funds have recently modified their holdings of TBBK. Carmel Capital Partners LLC bought a new stake in shares of Bancorp in the third quarter valued at approximately $34,000. Advisor Group Holdings Inc. lifted its position in Bancorp by 325.8% in the first quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after purchasing an additional 935 shares during the period. Coppell Advisory Solutions LLC bought a new position in Bancorp in the second quarter worth $45,000. Federated Hermes Inc. lifted its position in Bancorp by 28.1% in the third quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock worth $50,000 after purchasing an additional 500 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in Bancorp in the fourth quarter worth $56,000. 91.52% of the stock is owned by institutional investors.

Bancorp Company Profile

(Get Free Report)

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.

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