Principal Financial Group Inc. Acquires 741,476 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Principal Financial Group Inc. raised its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 165.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,188,348 shares of the bank’s stock after buying an additional 741,476 shares during the period. Principal Financial Group Inc.’s holdings in Bancorp were worth $30,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank increased its holdings in shares of Bancorp by 340.4% during the second quarter. Comerica Bank now owns 59,640 shares of the bank’s stock worth $1,375,000 after buying an additional 46,098 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Bancorp by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 355,486 shares of the bank’s stock worth $8,180,000 after buying an additional 6,110 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Bancorp by 1,354.2% during the second quarter. Legal & General Group Plc now owns 105,938 shares of the bank’s stock worth $2,438,000 after buying an additional 98,653 shares in the last quarter. Acuitas Investments LLC increased its holdings in shares of Bancorp by 25.8% during the third quarter. Acuitas Investments LLC now owns 130,990 shares of the bank’s stock worth $3,334,000 after buying an additional 26,848 shares in the last quarter. Finally, Owls Nest Partners IA LLC acquired a new stake in shares of Bancorp during the second quarter worth approximately $1,174,000. 90.37% of the stock is owned by institutional investors.

In related news, insider Erika R. Caesar sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $32.20, for a total value of $128,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

TBBK has been the subject of a number of research reports. Zacks Investment Research lowered shares of Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 1st. Keefe, Bruyette & Woods initiated coverage on shares of Bancorp in a research note on Tuesday. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Raymond James raised their price objective on shares of Bancorp from $30.00 to $38.00 and gave the company a “strong-buy” rating in a research note on Monday, November 1st.

Shares of NASDAQ TBBK opened at $32.12 on Friday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 17.55 and a beta of 1.41. The Bancorp, Inc. has a twelve month low of $15.63 and a twelve month high of $33.36. The company’s fifty day moving average is $27.86 and its 200-day moving average is $25.94. The company has a quick ratio of 0.64, a current ratio of 0.92 and a debt-to-equity ratio of 0.24.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Wednesday, October 27th. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. The business had revenue of $77.48 million for the quarter, compared to analysts’ expectations of $79.41 million. Bancorp had a net margin of 33.47% and a return on equity of 17.65%. During the same period in the previous year, the firm posted $0.40 EPS. On average, research analysts anticipate that The Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Bancorp Profile

The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance consists of commercial mortgage loan sales and securitizations, small business administration loans; direct lease financing; and security and insurance backed lines of credit and deposits generated by business lines.

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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