Insider Buying: Bancorp (NASDAQ:TBBK) CFO Acquires 1,700 Shares of Stock

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) CFO Dominic Canuso bought 1,700 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $64.64 per share, for a total transaction of $109,888.00. Following the completion of the purchase, the chief financial officer directly owned 1,700 shares of the company's stock, valued at $109,888. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bancorp Price Performance

• Should The Bancorp Make Your Small-Cap Watchlist for 2023?

TBBK traded down $0.58 during midday trading on Friday, hitting $61.54. The stock had a trading volume of 476,014 shares, compared to its average volume of 600,626. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91. The business has a fifty day moving average of $73.43 and a 200 day moving average of $64.69. The company has a market cap of $2.70 billion, a P/E ratio of 13.23 and a beta of 1.34.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.16). The business had revenue of $134.82 million during the quarter, compared to the consensus estimate of $99.60 million. Bancorp had a return on equity of 27.24% and a net margin of 27.16%. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. As a group, equities analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its stake in Bancorp by 158.7% in the 1st quarter. Hsbc Holdings PLC now owns 17,991 shares of the bank's stock worth $946,000 after purchasing an additional 11,037 shares during the period. HighTower Advisors LLC purchased a new position in Bancorp during the 1st quarter valued at approximately $673,000. Capital Fund Management S.A. bought a new position in shares of Bancorp during the 1st quarter valued at approximately $999,000. Nuveen LLC purchased a new stake in Bancorp during the first quarter valued at $11,417,000. Finally, Cerity Partners LLC lifted its holdings in shares of Bancorp by 11.9% in the 1st quarter. Cerity Partners LLC now owns 27,450 shares of the bank's stock valued at $1,450,000 after acquiring an additional 2,912 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TBBK. Morgan Stanley restated an "overweight" rating and set a $52.00 price target on shares of Bancorp in a research report on Friday, July 18th. Oppenheimer restated an "outperform" rating on shares of Bancorp in a report on Friday, July 18th. Finally, Weiss Ratings lowered Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Read Our Latest Report on TBBK

About Bancorp

(Get Free Report)

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.

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