Bancorp Inc (TBBK) Director Sells $210,586.40 in Stock
Bancorp Inc (NASDAQ:TBBK) Director Walter T. Beach sold 33,640 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $6.26, for a total transaction of $210,586.40. Following the transaction, the director now directly owns 362,829 shares of the company’s stock, valued at $2,271,309.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Bancorp Inc (NASDAQ:TBBK) traded up 1.47% on Thursday, hitting $6.21. 283,148 shares of the stock traded hands. Bancorp Inc has a 12 month low of $4.41 and a 12 month high of $8.20. The firm has a 50-day moving average price of $5.76 and a 200-day moving average price of $6.19. The company’s market capitalization is $345.83 million.
Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 27th. The bank reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $44.26 million. Analysts forecast that Bancorp Inc will post $0.39 earnings per share for the current year.
Several research analysts have recently weighed in on TBBK shares. BTIG Research raised shares of Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Monday, May 1st. TheStreet cut shares of Bancorp from a “c-” rating to a “d” rating in a report on Monday, April 24th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Bancorp in a report on Wednesday, February 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $7.44.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management AG purchased a new position in shares of Bancorp during the fourth quarter worth approximately $1,137,000. Dimensional Fund Advisors LP raised its position in shares of Bancorp by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,304,844 shares of the bank’s stock worth $18,116,000 after buying an additional 313,419 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Bancorp by 79.0% in the fourth quarter. Renaissance Technologies LLC now owns 165,800 shares of the bank’s stock worth $1,303,000 after buying an additional 73,200 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Bancorp during the fourth quarter worth approximately $3,488,000. Finally, State Street Corp raised its position in shares of Bancorp by 26.3% in the fourth quarter. State Street Corp now owns 736,929 shares of the bank’s stock worth $5,792,000 after buying an additional 153,310 shares during the last quarter. Hedge funds and other institutional investors own 67.98% of the company’s stock.
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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