Matthew Cohn Purchases 476 Shares of The Bancorp, Inc. (NASDAQ:TBBK) Stock

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 476 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $32.51 per share, with a total value of $15,474.76. Following the completion of the transaction, the director now directly owns 53,307 shares of the company’s stock, valued at $1,733,010.57. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

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

Bancorp Trading Up 1.2 %

NASDAQ:TBBK opened at $32.29 on Tuesday. The stock has a fifty day simple moving average of $34.52 and a 200 day simple moving average of $37.87. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 8.77 and a beta of 1.43. The Bancorp, Inc. has a 1-year low of $28.41 and a 1-year high of $47.11. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. Bancorp had a net margin of 39.94% and a return on equity of 26.32%. During the same quarter last year, the firm earned $0.88 earnings per share. Sell-side analysts forecast that The Bancorp, Inc. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on TBBK. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Keefe, Bruyette & Woods dropped their target price on shares of 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 raised their target price on shares of Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, January 29th.

Hedge Funds Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBBK. SummerHaven Investment Management LLC lifted its holdings in shares of Bancorp by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,853 shares of the bank’s stock valued at $804,000 after purchasing an additional 269 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Bancorp by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 28,396 shares of the bank’s stock worth $1,095,000 after acquiring an additional 319 shares in the last quarter. Natixis Advisors L.P. grew its stake in Bancorp by 1.3% during the 4th quarter. Natixis Advisors L.P. now owns 33,390 shares of the bank’s stock valued at $1,287,000 after acquiring an additional 418 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Bancorp by 0.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 46,980 shares of the bank’s stock valued at $1,621,000 after purchasing an additional 419 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Bancorp by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 46,959 shares of the bank’s stock valued at $1,571,000 after purchasing an additional 608 shares during the period. 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.