Bancorp (NASDAQ:TBBK) CFO Purchases $121,080.00 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $60.54 per share, for a total transaction of $121,080.00. Following the purchase, the chief financial officer owned 16,169 shares in the company, valued at $978,871.26. This represents a 14.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Bancorp Stock Down 4.3%

Bancorp stock traded down $2.67 during trading hours on Tuesday, hitting $59.38. The stock had a trading volume of 502,414 shares, compared to its average volume of 673,324. The stock’s 50-day moving average price is $67.44 and its 200-day moving average price is $69.44. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.61 billion, a P/E ratio of 12.07 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The firm had revenue of $132.21 million during the quarter, compared to analysts’ expectations of $101.10 million. Equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several research analyst reports. Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Wolfe Research set a $57.00 target price on shares of Bancorp in a report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Finally, Zacks Research lowered Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.20.

Hedge Funds Weigh In On Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of TBBK. Rothschild Investment LLC increased its position in Bancorp by 213.6% in the third quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. increased its holdings in Bancorp by 78.6% in the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after acquiring an additional 176 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after acquiring an additional 659 shares during the period. IFP Advisors Inc purchased a new position in Bancorp during the third quarter valued at approximately $66,000. Finally, Lazard Asset Management LLC bought a new position in shares of Bancorp in the second quarter worth approximately $53,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.