Jupiter Asset Management Ltd. Acquires 241,058 Shares of The Bancorp, Inc. $TBBK

Jupiter Asset Management Ltd. lifted its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 148.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 403,248 shares of the bank’s stock after buying an additional 241,058 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.92% of Bancorp worth $27,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its position in Bancorp by 213.6% in the third quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after purchasing an additional 235 shares during the period. Bessemer Group Inc. increased its position in Bancorp by 78.6% in the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Bancorp by 732.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after purchasing an additional 659 shares during the period. IFP Advisors Inc acquired a new stake in Bancorp in the third quarter worth about $66,000. Finally, Lazard Asset Management LLC acquired a new stake in Bancorp in the second quarter worth about $53,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bancorp

In other news, CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the transaction, the chief marketing officer directly owned 24,942 shares in the company, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value 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. The trade was a 11.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 17,370 shares of company stock worth $1,014,778. 6.00% of the stock is currently owned by company insiders.

Bancorp Price Performance

Bancorp stock opened at $55.16 on Friday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 10.73 and a beta of 1.26. The Bancorp, Inc. has a 1 year low of $48.86 and a 1 year high of $81.65. The business has a 50-day moving average of $56.49 and a 200-day moving average of $60.82. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler assumed coverage on Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price objective for the company. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings lowered Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Wolfe Research set a $57.00 price objective on Bancorp in a research report on Monday, February 9th. Finally, Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Bancorp Company Profile

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.