Matthew Cohn Purchases 476 Shares of The Bancorp, Inc. (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 476 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $32.51 per share, for a total transaction of $15,474.76. Following the acquisition, the director now owns 53,307 shares of the company’s stock, valued at approximately $1,733,010.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Matthew Cohn also recently made the following trade(s):

• On Wednesday, May 1st, Matthew Cohn acquired 230 shares of Bancorp stock. The stock was purchased at an average cost of $30.25 per share, for a total transaction of $6,957.50.
• On Friday, March 15th, Matthew Cohn bought 2,485 shares of Bancorp stock. The stock was purchased at an average price of $34.21 per share, with a total value of $85,011.85.

Bancorp Price Performance

Shares of TBBK stock traded up $0.37 during midday trading on Monday, reaching $32.29. 486,832 shares of the company traded hands, compared to its average volume of 657,683. The firm’s 50 day simple moving average is $34.77 and its two-hundred day simple moving average is $37.88. The firm has a market cap of $1.69 billion, a PE ratio of 8.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98. The Bancorp, Inc. has a 1-year low of $28.41 and a 1-year high of $47.11.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, equities research analysts expect that The Bancorp, Inc. will post 4.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Epoch Investment Partners Inc. increased its holdings in Bancorp by 80.7% during the 3rd quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock valued at $25,032,000 after acquiring an additional 323,986 shares in the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Bancorp during the 4th quarter worth approximately $7,184,000. Principal Financial Group Inc. lifted its stake in Bancorp by 21.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock valued at $39,984,000 after buying an additional 184,647 shares in the last quarter. American Century Companies Inc. grew its holdings in Bancorp by 21.9% during the 3rd quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after buying an additional 175,854 shares during the last quarter. Finally, FMR LLC increased its position in Bancorp by 3.3% during the third quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock worth $168,355,000 after buying an additional 157,987 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TBBK shares. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Raymond James lifted their price target on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods cut their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 5th.

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.