Matthew Cohn, a director at Bancorp, Inc. (NASDAQ:TBBK), recently acquired shares of the company's common stock totaling $53,269, according to a recent SEC filing. The purchases occurred on October 29, with share prices ranging from $49.91 to $50.11.
The transactions include the acquisition of 545 shares at $50.11, 400 shares at $49.91, and 120 shares at prices between $49.89 and $49.98. Following these transactions, Cohn holds 56,636 shares directly, with additional shares held indirectly through a trust and by his daughter. These acquisitions reflect ongoing interest and investment in Bancorp by its board members.
In other recent news, The Bancorp (NASDAQ:TBBK) Inc. reported a robust third-quarter earnings result, showcasing significant growth in its FinTech Solutions Group. The earnings came in at $1.04 per share, with a 15% increase in Gross Dollar Volume (GDV) from its FinTech operations and a 22% rise in total fee growth. Credit sponsorship balances also showed a notable surge, reaching $280 million.
The Bancorp has also provided preliminary guidance for 2025, setting it at $5.25 per share. This projection aligns with their aim to maintain strong capital levels and enhance shareholder value. The company's management anticipates a GDV growth of 15% or higher for 2025 and expects credit sponsorship programs to reach between $900 million to $1 billion by the end of 2025.
On the analyst front, there were discussions about the strong pipeline for FinTech partnerships and the stable net interest margin outlook. The Bancorp is expanding its offerings, including secured credit cards and credit-like loans with high-fee structures. These are all part of the recent developments taking place at The Bancorp Inc.
InvestingPro Insights
Matthew Cohn's recent share purchases align with a broader trend of insider confidence at Bancorp, Inc. (NASDAQ:TBBK). According to InvestingPro Tips, management has been aggressively buying back shares, suggesting a strong belief in the company's value proposition. This insider activity is particularly noteworthy given that TBBK's stock has taken a significant hit over the last week, with a 10.17% decline in price total return.
Despite the recent downturn, TBBK has demonstrated impressive performance over longer periods. InvestingPro data shows a 61.35% price total return over the past six months and a 44.32% return over the past year. This robust performance is supported by solid fundamentals, with the company boasting an adjusted P/E ratio of 11.5 for the last twelve months as of Q3 2023, indicating potential undervaluation relative to its growth prospects.
The company's financial health appears strong, with a revenue of $472.01 million and an impressive operating income margin of 59.33% for the same period. These figures suggest that Bancorp is effectively managing its operations and generating substantial profits.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for TBBK, providing deeper insights into the company's financial position and market performance. These additional tips can be particularly valuable in light of the recent insider purchases and the stock's current market dynamics.
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