The Bancorp, Inc. (NASDAQ:TBBK) CFO Frenkiel Paul purchased 22,498 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was bought at an average price of $6.56 per share, for a total transaction of $147,586.88. Following the transaction, the chief financial officer now directly owns 42,498 shares in the company, valued at $278,786.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
The Bancorp, Inc. (NASDAQ TBBK) traded up 3.75% during trading on Friday, reaching $7.19. The company’s stock had a trading volume of 516,989 shares. The Bancorp, Inc. has a 52 week low of $4.41 and a 52 week high of $8.20. The firm has a 50 day moving average of $6.45 and a 200 day moving average of $6.12. The stock’s market capitalization is $400.40 million.
The Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 50.29% and a negative return on equity of 11.95%. The firm had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $44.26 million. Analysts expect that The Bancorp, Inc. will post $0.39 EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY raised its stake in shares of The Bancorp by 9.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock valued at $189,000 after buying an additional 3,261 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of The Bancorp by 0.8% in the first quarter. Russell Investments Group Ltd. now owns 453,651 shares of the bank’s stock valued at $2,314,000 after buying an additional 3,644 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of The Bancorp by 6.2% in the first quarter. Teachers Advisors LLC now owns 104,867 shares of the bank’s stock valued at $535,000 after buying an additional 6,143 shares during the last quarter. First Trust Advisors LP raised its stake in shares of The Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 102,115 shares of the bank’s stock valued at $521,000 after buying an additional 8,778 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of The Bancorp by 51.8% in the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock valued at $156,000 after buying an additional 10,447 shares during the last quarter. Institutional investors own 76.98% of the company’s stock.
Several equities analysts recently issued reports on TBBK shares. BTIG Research upgraded The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Monday, May 1st. TheStreet cut The Bancorp from a “c-” rating to a “d” rating in a research report on Monday, April 24th. Finally, Zacks Investment Research upgraded The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.35.
The Bancorp Company Profile
The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).
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