Bancorp (NASDAQ:TBBK) Hits New 12-Month High – Here’s Why

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $59.41 and last traded at $58.35, with a volume of 707611 shares changing hands. The stock had previously closed at $54.59.

Wall Street Analyst Weigh In

Several research analysts recently commented on TBBK shares. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Piper Sandler boosted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Stock Down 1.0 %

The business has a fifty day moving average of $52.74 and a two-hundred day moving average of $44.73. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 14.35 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The business had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, equities analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity at Bancorp

In related news, Director Matthew Cohn acquired 545 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Matthew Cohn acquired 545 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the transaction, the director now directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after acquiring an additional 16,482 shares during the period. American Century Companies Inc. increased its holdings in shares of Bancorp by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after purchasing an additional 70,178 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of Bancorp by 11.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after purchasing an additional 46,115 shares during the period. Victory Capital Management Inc. boosted its position in shares of Bancorp by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after acquiring an additional 25,731 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Bancorp during the 2nd quarter valued at about $12,757,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Company Profile

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.