Insider Selling: The Bancorp, Inc. (NASDAQ:TBBK) CMO Sells 11,357 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK) CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the sale, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bancorp Stock Performance

Shares of NASDAQ TBBK traded up $1.39 during trading hours on Wednesday, reaching $50.42. The stock had a trading volume of 572,305 shares, compared to its average volume of 625,938. The firm has a 50-day moving average of $52.22 and a 200-day moving average of $43.26. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 12.79 and a beta of 1.45. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $59.26.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same period in the previous year, the company posted $0.92 earnings per share. Equities research analysts predict that The Bancorp, Inc. will post 4.35 earnings per share for the current year.

Analysts Set New Price Targets

TBBK has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler upped their price objective on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

Hedge Funds Weigh In On Bancorp

A number of hedge funds have recently modified their holdings of TBBK. Nantahala Capital Management LLC purchased a new position in shares of Bancorp during the second quarter worth approximately $12,757,000. Jupiter Asset Management Ltd. grew its position in shares of Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after acquiring an additional 164,855 shares during the last quarter. Marshall Wace LLP grew its position in shares of Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after acquiring an additional 96,072 shares during the last quarter. Jane Street Group LLC grew its position in shares of Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after acquiring an additional 70,361 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after acquiring an additional 70,178 shares during the last quarter. 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.