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Jeffrey A. Nager, Executive Vice President and Head of Commercial Lending at Bancorp, Inc. (NASDAQ:TBBK), a $2.86 billion financial institution that has seen its stock surge 25.7% over the past six months and maintains a "GREAT" financial health rating according to InvestingPro, recently sold 10,000 shares of the company’s common stock. The shares were sold on February 19, 2025, at prices ranging from $60.10 to $60.32 per share, amounting to a total transaction value of approximately $601,665.
Following this transaction, Nager retains ownership of 98,274 shares directly. This transaction was executed by Paul Frenkiel, attorney-in-fact, on behalf of Nager.
In other recent news, The Bancorp reported its fourth-quarter 2024 earnings, with an earnings per share (EPS) of $1.15, aligning with analysts’ forecasts. The company achieved a revenue of $148.56 million, surpassing the expected $133.01 million. Raymond (NSE:RYMD) James responded by increasing its price target for The Bancorp shares from $60 to $67, maintaining an Outperform rating. This adjustment followed the company’s results, which exceeded expectations and highlighted ambitious growth targets for its credit sponsorship initiative. The initiative aims to exceed $1 billion by the end of 2025 and approach $3 billion by 2026, potentially boosting fee income and reducing loan portfolio risk. The Bancorp’s Gross Dollar Volume has been growing at about 20%, a trend expected to continue with the credit sponsorship program. The company also announced plans for a $150 million share buyback in 2025, indicating confidence in its financial position. Additionally, the firm projects a 2025 EPS of $5.25, reflecting optimism for sustained growth.
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