Dominic Canuso Buys 800 Shares of Bancorp (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) CFO Dominic Canuso acquired 800 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was acquired at an average price of $62.00 per share, with a total value of $49,600.00. Following the acquisition, the chief financial officer owned 4,500 shares in the company, valued at $279,000. The trade was a 21.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bancorp Price Performance

Bancorp stock opened at $56.99 on Thursday. The company’s 50 day moving average price is $67.24 and its two-hundred day moving average price is $69.36. 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 Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $81.65. The stock has a market cap of $2.50 billion, a P/E ratio of 11.58 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 EPS 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 company had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. On average, equities analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Hedge Funds Weigh In On Bancorp

Several institutional investors have recently modified their holdings of TBBK. Rothschild Investment LLC lifted its position in Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Bancorp during the fourth quarter worth approximately $27,000. Bessemer Group Inc. lifted its holdings in shares of 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 during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Bancorp in the 2nd quarter valued at $53,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bancorp by 732.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after purchasing an additional 659 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wolfe Research set a $57.00 price target on shares of Bancorp in a report on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 target price on shares of Bancorp in a research report on Wednesday, January 21st. Bank of America set a $60.00 price target on Bancorp in a report on Wednesday, January 21st. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.20.

About Bancorp

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.