The Bancorp, Inc. (NASDAQ:TBBK) CAO John Leto acquired 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average price of $6.61 per share, with a total value of $264,400.00. Following the acquisition, the chief accounting officer now owns 135,762 shares of the company’s stock, valued at approximately $897,386.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of The Bancorp, Inc. (NASDAQ TBBK) traded up 3.75% on Friday, reaching $7.19. 516,989 shares of the company’s stock were exchanged. The stock’s market cap is $400.40 million. The Bancorp, Inc. has a 52-week low of $4.41 and a 52-week high of $8.20. The company’s 50 day moving average price is $6.45 and its 200-day moving average price is $6.12.
The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 27th. The bank reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $49.10 million during the quarter, compared to the consensus estimate of $44.26 million. The Bancorp had a negative net margin of 50.29% and a negative return on equity of 11.95%. Equities analysts forecast that The Bancorp, Inc. will post $0.39 EPS for the current fiscal year.
A number of brokerages recently issued reports on TBBK. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, June 7th. BTIG Research upgraded shares of The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Monday, May 1st. Finally, TheStreet cut shares of The Bancorp from a “c-” rating to a “d” rating in a report on Monday, April 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The Bancorp currently has a consensus rating of “Hold” and a consensus price target of $7.35.
Several hedge funds have recently made changes to their positions in TBBK. Allianz Asset Management AG bought a new stake in shares of The Bancorp during the fourth quarter valued at approximately $1,137,000. Dimensional Fund Advisors LP increased its stake in shares of The Bancorp by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,304,844 shares of the bank’s stock valued at $18,116,000 after buying an additional 313,419 shares during the period. Renaissance Technologies LLC increased its stake in shares of The Bancorp by 79.0% in the fourth quarter. Renaissance Technologies LLC now owns 165,800 shares of the bank’s stock valued at $1,303,000 after buying an additional 73,200 shares during the period. Wells Fargo & Company MN increased its stake in shares of The Bancorp by 4.4% in the first quarter. Wells Fargo & Company MN now owns 2,466,233 shares of the bank’s stock valued at $12,578,000 after buying an additional 102,883 shares during the period. Finally, Second Curve Capital LLC increased its stake in shares of The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock valued at $15,991,000 after buying an additional 735,000 shares during the period. 76.98% of the stock is owned by institutional investors.
About The Bancorp
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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