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

The Bancorp, Inc. (NASDAQ:TBBK) Director Matthew Cohn bought 476 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $32.51 per share, with a total value of $15,474.76. Following the transaction, the director now directly owns 53,307 shares in the company, valued at approximately $1,733,010.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was purchased at an average price of $30.25 per share, with a total value 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, for a total transaction of $85,011.85.

Bancorp Stock Up 0.4 %

Shares of Bancorp stock opened at $32.42 on Wednesday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 8.81 and a beta of 1.43. The Bancorp, Inc. has a twelve month low of $28.41 and a twelve month high of $47.11. 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 business’s 50 day simple moving average is $34.27 and its 200-day simple moving average is $37.87.

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

Analysts Set New Price Targets

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

Institutional Trading of Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund grew its holdings in Bancorp by 7.1% during the first quarter. Illinois Municipal Retirement Fund now owns 34,233 shares of the bank’s stock worth $1,145,000 after acquiring an additional 2,283 shares during the period. ClariVest Asset Management LLC bought a new position in shares of Bancorp during the 1st quarter valued at about $1,008,000. SG Americas Securities LLC grew its stake in shares of Bancorp by 15.1% in the 1st quarter. SG Americas Securities LLC now owns 6,689 shares of the bank’s stock worth $224,000 after purchasing an additional 877 shares during the last quarter. Texas Permanent School Fund Corp raised 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 worth $1,571,000 after purchasing an additional 608 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in Bancorp by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 69,576 shares of the bank’s stock valued at $2,328,000 after purchasing an additional 1,070 shares during the last quarter. Institutional investors 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.