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Summary

  • 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.

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Insider buying during the last 30 days

Here is a table of The Bancorp's insider activity during the last 30 days.

NameTitleTrade DateShares PurchasedCurrent OwnershipIncrease In Shares
Hersh KozlovDirectorJune 132,00015,500
shares
+14.8%
John ChrystalDirectorJune 136,0008,500 shares+240.0%
Michael BradleyDirectorJune 135,00025,000 shares+25.0%
Betsy CohenCEOJune 1320,0001,023,000 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.

MonthInsider buying / sharesInsider selling / shares
June 201433,0000
May 201400
April 201400
March 201400
February 201400
January 20141,0000
December 201300
November 201310,0000
October 201300
September 201300
August 2013016,998
July 201300
June 201300
May 2013012,150
April 201300
March 201300
February 20132,0000
January 20135000

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.

Financials

The Bancorp reported first-quarter financial results on April 23, with the following highlights:

Revenue$53.6 million
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.

Competition

The Bancorp's competitors include Eagle Bancorp (NASDAQ:EGBN), Hampton Roads Bankshares (NASDAQ:HMPR), and Old Line Bancshares (NASDAQ:OLBK). Here is a table comparing these companies.

CompanyTBBKEGBNHMPROLBK
Market Cap:438.87M841.75M286.04M181.24M
Employees:624387513228
Qtrly Rev Growth (yoy):0.200.08-0.100.29
Revenue:146.82M163.18M88.36M50.14M
Operating Margin:0.240.480.160.36
Net Income:18.00M47.37M7.30M8.39M
EPS:0.471.790.040.83
P/E:24.8218.1046.6720.27
PEG (5-yr. expected):1.731.34N/AN/A
P/S:2.925.123.333.63
P/B:1.172.361.551.41

The Bancorp has the lowest P/B ratio among these four companies.

Here is a table of these competitors' insider activities this year.

CompanyInsider buying / sharesInsider selling / shares
EGBN01,600
HMPR7,5000
OLBK15,2770

Only The Bancorp has seen intensive insider buying during the last 30 days.

Conclusion

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.

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(Source: Investor presentation)

Source: The Bancorp: 4 Different Insiders Have Purchased Shares This Month