The Bancorp, Inc. $TBBK Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 29.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,620 shares of the bank’s stock after selling 11,201 shares during the quarter. Intech Investment Management LLC’s holdings in Bancorp were worth $1,797,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC grew its position in Bancorp by 213.6% during the 3rd 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. grew its position in Bancorp by 78.6% during the 3rd 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. Lazard Asset Management LLC acquired a new stake in Bancorp during the 2nd quarter worth about $53,000. Northwestern Mutual Wealth Management Co. grew its position in Bancorp by 732.2% during the 3rd 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. Finally, IFP Advisors Inc acquired a new stake in Bancorp during the 3rd quarter worth about $66,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Trading Up 2.9%

Shares of Bancorp stock opened at $53.54 on Friday. The firm has a market capitalization of $2.23 billion, a PE ratio of 10.42 and a beta of 1.21. The Bancorp, Inc. has a twelve month low of $49.19 and a twelve month high of $81.65. The firm’s 50-day moving average price is $56.54 and its 200 day moving average price is $60.55. 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 released its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share 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 business had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. On average, sell-side analysts predict that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bancorp news, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president directly owned 32,880 shares of the company’s stock, valued at $1,982,006.40. This trade represents a 11.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ryan Harris sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was 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 directly owned 150,516 shares in the company, valued at $8,004,440.88. This trade represents a 2.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,370 shares of company stock valued at $1,014,778 in the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TBBK shares. Wolfe Research set a $57.00 target price on Bancorp in a research report on Monday, February 9th. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Piper Sandler started coverage on Bancorp in a research report on Thursday, March 12th. They set an “overweight” rating and a $66.00 target price on the stock. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.