According to Zacks, “The Bancorp Bank is a Delaware-chartered, federally insured commercial bank which focuses on service to small and mid-size businesses and their principals in the Philadelphia-Wilmington market area, and on private-label affinity group programs, including merchant card servicing. “
TBBK has been the topic of a number of other reports. TheStreet lowered shares of The Bancorp from a hold rating to a sell rating in a research report on Monday, August 29th. BTIG Research restated a buy rating and set a $10.00 target price on shares of The Bancorp in a research report on Monday, July 25th. Finally, Raymond James Financial Inc. upgraded shares of The Bancorp from a market perform rating to a strong-buy rating and set a $6.50 target price on the stock in a research report on Tuesday, August 9th.
Shares of The Bancorp (NASDAQ:TBBK) opened at 7.00 on Wednesday. The company has a 50-day moving average of $6.34 and a 200 day moving average of $5.96. The stock’s market cap is $264.92 million. The Bancorp has a one year low of $3.88 and a one year high of $8.20.
The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.24. On average, equities analysts forecast that The Bancorp will post ($1.03) earnings per share for the current fiscal year.
In related news, Director Michael J. Bradley purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average cost of $5.05 per share, with a total value of $50,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter T. Beach purchased 180,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were bought at an average cost of $4.50 per share, with a total value of $810,000.00. Following the completion of the acquisition, the director now owns 337,829 shares of the company’s stock, valued at $1,520,230.50. The disclosure for this purchase can be found here. Insiders own 7.71% of the company’s stock.
Several large investors have recently modified their holdings of TBBK. BlackRock Advisors LLC increased its stake in shares of The Bancorp by 1.4% in the second quarter. BlackRock Advisors LLC now owns 16,668 shares of the company’s stock valued at $100,000 after buying an additional 235 shares in the last quarter. American International Group Inc. increased its stake in shares of The Bancorp by 2.2% in the second quarter. American International Group Inc. now owns 20,179 shares of the company’s stock valued at $121,000 after buying an additional 436 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of The Bancorp by 16.8% in the second quarter. Alliancebernstein L.P. now owns 20,900 shares of the company’s stock valued at $126,000 after buying an additional 3,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of The Bancorp during the first quarter valued at $125,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of The Bancorp during the second quarter valued at $152,000. 77.99% of the stock is owned by hedge funds and other institutional investors.
The Bancorp Company Profile
The Bancorp, Inc is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank). The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The Company operates through three segments: specialty finance, payments and corporate.
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