The Bancorp, Inc. (NASDAQ:TBBK) Director Purchases $15,474.76 in Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 476 shares of the stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $32.51 per share, with a total value of $15,474.76. Following the purchase, the director now directly owns 53,307 shares of the company’s stock, valued at approximately $1,733,010.57. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matthew Cohn also recently made the following trade(s):

• On Wednesday, May 1st, Matthew Cohn purchased 230 shares of Bancorp stock. The shares were purchased at an average cost of $30.25 per share, for a total transaction of $6,957.50.
• On Friday, March 15th, Matthew Cohn acquired 2,485 shares of Bancorp stock. The stock was purchased at an average price of $34.21 per share, with a total value of $85,011.85.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $33.14 on Thursday. The company has a fifty day moving average price of $34.04 and a 200 day moving average price of $37.84. The firm has a market cap of $1.73 billion, a PE ratio of 9.01 and a beta of 1.43. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a 1-year low of $28.41 and a 1-year high of $47.11.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter in the previous year, the company earned $0.88 earnings per share. Research analysts predict that The Bancorp, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on TBBK. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods cut their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 5th. Finally, Raymond James increased their target price on Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th.

Hedge Funds Weigh In On Bancorp

A number of large investors have recently bought and sold shares of TBBK. State Board of Administration of Florida Retirement System raised its holdings in shares of Bancorp by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,703 shares of the bank’s stock valued at $525,000 after purchasing an additional 550 shares during the last quarter. Entropy Technologies LP increased its stake in Bancorp by 256.2% in the 1st quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock valued at $782,000 after buying an additional 16,812 shares during the last quarter. ProShare Advisors LLC increased its stake in Bancorp by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 10,417 shares of the bank’s stock valued at $349,000 after buying an additional 606 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in Bancorp by 7.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 34,233 shares of the bank’s stock worth $1,145,000 after buying an additional 2,283 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Bancorp during the 1st quarter worth about $1,008,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

About Bancorp

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.