Bancorp (NASDAQ:TBBK) Reaches New 12-Month High – Here’s What Happened

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $60.13 and last traded at $59.15, with a volume of 51812 shares changing hands. The stock had previously closed at $57.42.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TBBK shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Piper Sandler upped their target price on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 15th.

Bancorp Stock Up 4.8 %

The firm’s 50-day moving average is $53.70 and its two-hundred day moving average is $46.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a market cap of $2.88 billion, a P/E ratio of 14.57 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results 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). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The company had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter last year, the company earned $0.92 EPS. On average, equities research analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Buying and Selling at Bancorp

In other news, Director Matthew Cohn bought 545 shares of the stock in a transaction on Tuesday, October 29th. The shares were purchased at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp 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 sale, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This trade represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC bought a new stake in Bancorp in the second quarter worth $12,757,000. Lisanti Capital Growth LLC purchased a new stake in Bancorp in the 3rd quarter worth approximately $6,100,000. Marshall Wace LLP raised its position in 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 period. Segall Bryant & Hamill LLC boosted its stake in Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after purchasing an additional 70,768 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after buying an additional 70,361 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

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.