UBS Group AG Reduces Stock Holdings in The Bancorp, Inc. $TBBK

UBS Group AG reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 11.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 268,695 shares of the bank’s stock after selling 36,243 shares during the quarter. UBS Group AG’s holdings in Bancorp were worth $18,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Bancorp by 14.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 4,598 shares of the bank’s stock worth $311,000 after acquiring an additional 593 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of Bancorp by 33.3% in the 4th quarter. Hennessy Advisors Inc. now owns 40,000 shares of the bank’s stock valued at $2,701,000 after purchasing an additional 10,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bancorp by 7.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,805 shares of the bank’s stock valued at $1,202,000 after purchasing an additional 1,169 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Bancorp by 1.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 75,052 shares of the bank’s stock worth $5,213,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Bancorp by 0.5% in the 4th quarter. Whittier Trust Co. now owns 138,193 shares of the bank’s stock worth $9,599,000 after purchasing an additional 668 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ryan Harris sold 4,500 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $53.18, for a total transaction of $239,310.00. Following the completion of the transaction, the executive vice president owned 150,516 shares of the company’s stock, valued at $8,004,440.88. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares of the company’s stock, valued at $1,982,006.40. This represents a 11.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,370 shares of company stock valued at $1,014,778 over the last 90 days. Insiders own 6.00% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $53.55 on Wednesday. The Bancorp, Inc. has a 52 week low of $48.86 and a 52 week high of $81.65. The business’s 50 day moving average price is $56.17 and its 200 day moving average price is $62.18. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.23 billion, a P/E ratio of 10.42 and a beta of 1.26.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The company had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. On average, sell-side analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TBBK. Wolfe Research set a $57.00 price target on shares of Bancorp in a research note on Monday, February 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. Piper Sandler initiated coverage on shares of Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective on the stock. Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.