Insider Selling: Bancorp Inc (TBBK) Director Sells 41,360 Shares of Stock
Bancorp Inc (NASDAQ:TBBK) Director Walter T. Beach sold 41,360 shares of Bancorp stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $6.19, for a total value of $256,018.40. Following the transaction, the director now owns 296,829 shares in the company, valued at $1,837,371.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Bancorp Inc (NASDAQ:TBBK) traded down 0.81% during trading on Friday, hitting $6.16. 67,152 shares of the stock were exchanged. The stock has a 50 day moving average of $5.83 and a 200-day moving average of $6.19. Bancorp Inc has a 52 week low of $4.41 and a 52 week high of $8.20. The stock’s market cap is $343.04 million.
Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, April 27th. The bank reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $44.26 million. Equities analysts expect that Bancorp Inc will post $0.39 EPS for the current fiscal year.
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Several research analysts have weighed in on the company. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Bancorp in a report on Wednesday, February 1st. BTIG Research upgraded Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Monday, May 1st. Finally, TheStreet lowered Bancorp from a “c-” rating to a “d” rating in a report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.44.
Large investors have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Bancorp by 51.8% in the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock worth $156,000 after buying an additional 10,447 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Bancorp by 55.5% in the first quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock worth $156,000 after buying an additional 10,895 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Bancorp by 9.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock worth $189,000 after buying an additional 3,261 shares during the last quarter. Sei Investments Co. raised its stake in shares of Bancorp by 380.5% in the first quarter. Sei Investments Co. now owns 54,902 shares of the bank’s stock worth $280,000 after buying an additional 43,475 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Bancorp by 43.5% in the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock worth $465,000 after buying an additional 27,600 shares during the last quarter. 67.98% of the stock is currently owned by hedge funds and other institutional investors.
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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