Bancorp (NASDAQ:TBBK) Stock Price Up 14.7% – Still a Buy?

The Bancorp, Inc. (NASDAQ:TBBK)’s share price traded up 14.7% during mid-day trading on Wednesday . The stock traded as high as $57.44 and last traded at $56.56. 71,961 shares were traded during mid-day trading, a decline of 88% from the average session volume of 622,050 shares. The stock had previously closed at $49.33.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TBBK shares. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler upped their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

Bancorp Stock Performance

The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 14.35 and a beta of 1.46. The stock’s 50-day simple moving average is $52.14 and its 200 day simple moving average is $43.85.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 39.22%. The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same quarter last year, the company earned $0.92 earnings per share. Analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the transaction, the executive vice president now owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of Bancorp stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the sale, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares during the period. Blue Trust Inc. grew its stake in Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after acquiring an additional 1,272 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Bancorp during the third quarter worth about $83,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Bancorp during the 2nd quarter valued at about $216,000. Institutional investors 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.