Bancorp (NASDAQ:TBBK) Trading Down 4.8%

The Bancorp, Inc. (NASDAQ:TBBK)’s stock price traded down 4.8% on Friday . The company traded as low as $31.37 and last traded at $31.79. 467,414 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 630,146 shares. The stock had previously closed at $33.41.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Raymond James upped their price target on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Keefe, Bruyette & Woods decreased their target price on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 5th.

Bancorp Stock Down 7.8 %

The firm has a fifty day moving average price of $36.28 and a 200 day moving average price of $37.98. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.61 billion, a P/E ratio of 8.91 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The business had revenue of $119.15 million for the quarter, compared to analyst estimates of $118.52 million. Equities research analysts forecast that The Bancorp, Inc. will post 4.42 earnings per share for the current year.

Insider Activity

In other news, Director Daniela Mielke purchased 3,315 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $45.13 per share, with a total value of $149,605.95. Following the completion of the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Daniela Mielke purchased 3,315 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $45.13 per share, with a total value of $149,605.95. Following the completion of the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Cohn bought 2,485 shares of the business’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the purchase, the director now directly owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. Insiders have bought 7,800 shares of company stock valued at $308,838 over the last 90 days. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in shares of Bancorp by 79.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 88,285 shares of the bank’s stock worth $3,404,000 after purchasing an additional 38,961 shares during the period. First Hawaiian Bank raised its position in shares of Bancorp by 45.9% during the fourth quarter. First Hawaiian Bank now owns 14,819 shares of the bank’s stock worth $571,000 after purchasing an additional 4,664 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Bancorp by 89.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 127,192 shares of the bank’s stock worth $4,904,000 after purchasing an additional 60,016 shares during the period. Invesco Ltd. raised its position in shares of Bancorp by 24.0% during the third quarter. Invesco Ltd. now owns 219,127 shares of the bank’s stock worth $7,560,000 after purchasing an additional 42,346 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Bancorp during the third quarter worth about $1,272,000. 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.