Bancorp (NASDAQ:TBBK) Shares Gap Up Following Insider Buying Activity

The Bancorp, Inc. (NASDAQ:TBBK – Get Rating)’s share price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $26.00, but opened at $29.54. Bancorp shares last traded at $29.75, with a volume of 134,008 shares.

Specifically, Director Daniela Mielke acquired 1,400 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was purchased at an average cost of $34.64 per share, for a total transaction of $48,496.00. Following the transaction, the director now owns 18,180 shares of the company’s stock, valued at approximately $629,755.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Erika R. Caesar sold 4,388 shares of Bancorp stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $34.78, for a total transaction of $152,614.64. Following the completion of the sale, the insider now directly owns 25,958 shares in the company, valued at approximately $902,819.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniela Mielke purchased 1,400 shares of Bancorp stock in a transaction dated Thursday, February 23rd. The shares were purchased at an average price of $34.64 per share, with a total value of $48,496.00. Following the completion of the acquisition, the director now owns 18,180 shares in the company, valued at $629,755.20. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,050 shares of company stock worth $121,530. 3.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James assumed coverage on Bancorp in a report on Monday, January 30th. They set an “outperform” rating and a $38.00 price target for the company. TheStreet upgraded Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 15th.

Bancorp Trading Up 16.0 %

The company has a fifty day moving average of $32.63 and a two-hundred day moving average of $28.67. The company has a current ratio of 0.99, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.22 and a beta of 1.49.

Institutional Investors Weigh In On Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in TBBK. Advisor Group Holdings Inc. lifted its holdings in Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after purchasing an additional 935 shares during the last quarter. Federated Hermes Inc. increased its position in Bancorp by 28.1% in the 3rd quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock worth $50,000 after buying an additional 500 shares during the period. Rockefeller Capital Management L.P. bought a new position in Bancorp in the 4th quarter worth approximately $56,000. Emerald Advisers LLC bought a new position in Bancorp in the 4th quarter worth approximately $57,000. Finally, Point72 Hong Kong Ltd bought a new position in Bancorp in the 2nd quarter worth approximately $63,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

About Bancorp

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The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.