- 4 insiders purchased The Bancorp stock within one month.
- The stock was sold by no insiders in the month of intensive purchasing.
- 3 of these 4 insiders increased their holdings by more than 10%.
The Bancorp (NASDAQ:TBBK) operates as the financial holding company for The Bancorp Bank that provides various commercial and retail, and related banking products and services to small and mid-size businesses and their principals in the United States.
Insider buying during the last 30 days
Here is a table of The Bancorp's insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Purchased||Current Ownership||Increase In Shares|
|Hersh Kozlov||Director||June 13||2,000||15,500|
|John Chrystal||Director||June 13||6,000||8,500 shares||+240.0%|
|Michael Bradley||Director||June 13||5,000||25,000 shares||+25.0%|
|Betsy Cohen||CEO||June 13||20,000||1,023,000 shares||+2.0%|
There have been 33,000 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of The Bancorp's insider activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 46,500 shares purchased, and there have been 29,148 shares sold by insiders since January 2013. The month of June 2014 has seen the most insider buying.
The Bancorp reported first-quarter financial results on April 23, with the following highlights:
|Net income||$0.3 million|
|Book value||$9.71 per share|
|Tangible book value||$9.52 per share|
The stock plunged $3 after these results.
The Bancorp has grown its book value since 2011.
On June 10, The Bancorp announced that it had entered into an order with the Federal Deposit Insurance Corporation, which became effective on June 5, 2014. The order requires The Bancorp to take certain affirmative actions to comply with its BSA obligations.
The stock plunged another $5 after this news, and the four insiders purchased their shares after this news.
|Qtrly Rev Growth (yoy):||0.20||0.08||-0.10||0.29|
|PEG (5-yr. expected):||1.73||1.34||N/A||N/A|
The Bancorp has the lowest P/B ratio among these four companies.
Here is a table of these competitors' insider activities this year.
|Company||Insider buying / shares||Insider selling / shares|
Only The Bancorp has seen intensive insider buying during the last 30 days.
There have been four different insiders buying The Bancorp, and there have not been any insiders selling The Bancorp during the last 30 days. Three of these four insiders increased their holdings by more than 10%. The Bancorp has an insider ownership of 5.11%.
The four insiders purchased their shares at prices ranging from $11.39 to $11.50. I believe The Bancorp could be a good pick below $11.50, based on the intensive insider buying.
(Source: Investor presentation)
Disclosure: The author has no positions in any stocks mentioned, but may initiate a long position in TBBK over the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.