Bancorp (NASDAQ:TBBK) Shares Gap Down to $51.30

The Bancorp, Inc. (NASDAQ:TBBK)’s share price gapped down before the market opened on Friday . The stock had previously closed at $51.30, but opened at $49.91. Bancorp shares last traded at $51.31, with a volume of 38,947 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target on shares of Bancorp in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th.

Bancorp Stock Performance

The company has a market capitalization of $2.71 billion, a PE ratio of 14.17 and a beta of 1.47. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The business has a 50 day simple moving average of $37.53 and a 200 day simple moving average of $37.33.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $123.80 million for the quarter, compared to analyst estimates of $126.86 million. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. During the same period in the prior year, the company earned $0.88 earnings per share. Equities research analysts predict that The Bancorp, Inc. will post 4.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at $491,131.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Cheryl Creuzot sold 766 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the sale, the director now directly owns 7,638 shares in the company, valued at $249,304.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at $491,131.16. The disclosure for this sale can be found here. Insiders acquired a total of 1,706 shares of company stock valued at $54,962 over the last 90 days. Insiders own 5.20% of the company’s stock.

Institutional Trading of Bancorp

A number of large investors have recently made changes to their positions in TBBK. GAMMA Investing LLC raised its stake in Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares in the last quarter. Quest Partners LLC purchased a new position in Bancorp in the fourth quarter valued at approximately $115,000. Summit Asset Management LLC purchased a new stake in shares of Bancorp during the 4th quarter worth approximately $202,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Bancorp in the 2nd quarter valued at $216,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

About Bancorp

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.