Bancorp (NASDAQ:TBBK) Sets New 12-Month High on Insider Buying Activity

Bancorp Inc (NASDAQ:TBBK) shares hit a new 52-week high on Monday after an insider bought additional shares in the company. The stock traded as high as $11.76 and last traded at $11.63, with a volume of 354303 shares changing hands. The stock had previously closed at $11.57.

Specifically, Director Daniel G. Cohen sold 54,686 shares of Bancorp stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $10.73, for a total value of $586,780.78. Also, EVP Ron J. Wechsler sold 2,539 shares of Bancorp stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.95, for a total transaction of $27,802.05. In the last 90 days, insiders have bought 17,460 shares of company stock worth $195,280 and have sold 104,340 shares worth $1,858,113. Company insiders own 11.80% of the company’s stock.

TBBK has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Bancorp from a “sell” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Saturday, November 2nd. BidaskClub upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. ValuEngine cut shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Sandler O’Neill upgraded shares of Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.00.

The company has a market cap of $658.46 million, a PE ratio of 17.23 and a beta of 1.27. The business’s 50-day moving average is $11.08 and its 200 day moving average is $9.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.61 and a current ratio of 0.72.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.11. Bancorp had a net margin of 20.66% and a return on equity of 12.67%. The firm had revenue of $71.08 million for the quarter, compared to analysts’ expectations of $63.76 million. Equities research analysts anticipate that Bancorp Inc will post 1.09 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TBBK. Nuveen Asset Management LLC purchased a new position in shares of Bancorp in the second quarter valued at about $4,787,000. Second Curve Capital LLC increased its position in shares of Bancorp by 24.9% in the second quarter. Second Curve Capital LLC now owns 1,655,661 shares of the bank’s stock valued at $14,768,000 after acquiring an additional 330,000 shares during the period. AQR Capital Management LLC increased its position in shares of Bancorp by 31.1% in the second quarter. AQR Capital Management LLC now owns 568,146 shares of the bank’s stock valued at $5,068,000 after acquiring an additional 134,882 shares during the period. Acadian Asset Management LLC increased its position in shares of Bancorp by 44.7% in the second quarter. Acadian Asset Management LLC now owns 430,106 shares of the bank’s stock valued at $3,837,000 after acquiring an additional 132,793 shares during the period. Finally, BlackRock Inc. increased its position in shares of Bancorp by 3.1% in the second quarter. BlackRock Inc. now owns 3,712,549 shares of the bank’s stock valued at $33,115,000 after acquiring an additional 110,043 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.

About Bancorp (NASDAQ:TBBK)

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

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