Bancorp Inc (NASDAQ:TBBK) Director Walter T. Beach sold 105,189 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $6.11, for a total value of $642,704.79. Following the completion of the sale, the director now directly owns 217,829 shares of the company’s stock, valued at approximately $1,330,935.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Bancorp Inc (NASDAQ:TBBK) traded down 0.49% during trading on Monday, hitting $6.15. The stock had a trading volume of 226,080 shares. Bancorp Inc has a 12-month low of $4.41 and a 12-month high of $8.20. The company’s market capitalization is $342.49 million. The stock has a 50 day moving average price of $6.04 and a 200 day moving average price of $6.17.
Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $44.26 million. Equities research analysts forecast that Bancorp Inc will post $0.39 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Sippican Capital Advisors increased its stake in shares of Bancorp by 9.5% in the first quarter. Sippican Capital Advisors now owns 368,275 shares of the bank’s stock valued at $1,878,000 after buying an additional 31,900 shares during the period. Teachers Advisors LLC boosted its position in shares of Bancorp by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 98,724 shares of the bank’s stock valued at $776,000 after buying an additional 26,624 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Bancorp by 31.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,798 shares of the bank’s stock valued at $266,000 after buying an additional 8,087 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Bancorp by 238.6% in the fourth quarter. Two Sigma Investments LP now owns 206,155 shares of the bank’s stock valued at $1,620,000 after buying an additional 145,275 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of Bancorp during the fourth quarter valued at approximately $500,000. Institutional investors and hedge funds own 67.98% of the company’s stock.
A number of brokerages have weighed in on TBBK. BTIG Research raised Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Monday, May 1st. TheStreet cut Bancorp from a “c-” rating to a “d” rating in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.44.
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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