Thomas G. Pareigat, Executive Vice President and General Counsel at Bancorp, Inc. (NASDAQ:TBBK), recently executed a significant stock transaction, according to a filing with the Securities and Exchange Commission. On November 5, Pareigat sold 5,466 shares of Bancorp common stock at prices ranging from $48.98 to $49.10, amounting to a total transaction value of $267,982.
Following this sale, Pareigat retains direct ownership of 73,114 shares. Additionally, he holds 4,319 shares indirectly through a 401(k) plan account. This transaction follows a previous disposition of 2,500 shares on November 4, which was executed without any financial consideration.
In other recent news, The Bancorp (NASDAQ:TBBK) has reported significant growth in its Q3 2024 earnings, with a notable emphasis on its FinTech Solutions Group. The company announced earnings of $1.04 per share, a 15% increase in Gross Dollar Volume from its FinTech operations, and a 22% rise in total fee growth. Credit sponsorship balances experienced a remarkable increase, reaching $280 million. The Bancorp also presented a preliminary guidance of $5.25 per share for 2025, indicating its intent to maintain strong capital levels and enhance shareholder value. Additionally, the company's non-interest income is anticipated to benefit from new payments clients in 2025. Despite a slight decrease in the third quarter net interest margin, the company remains optimistic about the growth in its loan and payments businesses. These are among the recent developments that underline The Bancorp's strong performance and strategic planning for future growth.
InvestingPro Insights
The recent insider sale by Thomas G. Pareigat comes at a time when The Bancorp, Inc. (NASDAQ:TBBK) is experiencing notable financial performance. According to InvestingPro data, TBBK's market capitalization stands at $2.75 billion, with a price-to-earnings ratio of 14.37, suggesting a relatively attractive valuation compared to its earnings.
InvestingPro Tips highlight that management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. This buyback activity aligns with the company's strong financial position, as TBBK has been profitable over the last twelve months and analysts predict continued profitability this year.
The company's stock has shown impressive momentum, with a large price uptick of 52.77% over the last six months. This performance is part of a broader trend of strong returns, with InvestingPro Tips noting high returns over the last decade and the last five years.
Despite these positive indicators, it's worth noting that two analysts have revised their earnings downwards for the upcoming period, which investors may want to consider alongside the insider selling activity. Additionally, TBBK does not pay a dividend to shareholders, which may be a factor for income-focused investors.
For those seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for TBBK, providing deeper insights into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.