The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in The Bancorp, Inc. (NASDAQ:TBBK) by 33.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,696 shares of the bank’s stock after acquiring an additional 2,442 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bancorp were worth $374,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. raised its holdings in Bancorp by 80.7% during the third quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock worth $25,032,000 after purchasing an additional 323,986 shares in the last quarter. American Century Companies Inc. raised its holdings in Bancorp by 21.9% during the third quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock worth $33,824,000 after purchasing an additional 175,854 shares in the last quarter. FMR LLC raised its holdings in Bancorp by 3.3% during the third quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock worth $168,355,000 after purchasing an additional 157,987 shares in the last quarter. Lisanti Capital Growth LLC raised its holdings in Bancorp by 178.6% during the third quarter. Lisanti Capital Growth LLC now owns 208,925 shares of the bank’s stock worth $7,208,000 after purchasing an additional 133,935 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in Bancorp by 89.6% during the fourth quarter. Whittier Trust Co. now owns 235,965 shares of the bank’s stock worth $9,099,000 after purchasing an additional 111,497 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Insider Activity at Bancorp

In other news, Director Matthew Cohn bought 2,485 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $34.21 per share, with a total value of $85,011.85. Following the purchase, the director now owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Stephanie B. Mudick acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $37.11 per share, with a total value of $74,220.00. Following the purchase, the director now directly owns 31,584 shares in the company, valued at approximately $1,172,082.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Cohn acquired 2,485 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $34.21 per share, with a total value of $85,011.85. Following the purchase, the director now owns 157,627 shares in the company, valued at $5,392,419.67. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,800 shares of company stock valued at $308,838. 5.20% of the stock is owned by insiders.

Bancorp Trading Down 7.8 %

NASDAQ:TBBK opened at $30.80 on Friday. The company has a market capitalization of $1.61 billion, a PE ratio of 8.80 and a beta of 1.45. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a 52-week low of $26.97 and a 52-week high of $47.11. The stock has a fifty day simple moving average of $36.28 and a 200-day simple moving average of $37.98.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. The firm had revenue of $119.15 million during the quarter, compared to the consensus estimate of $118.52 million. On average, equities research analysts expect that The Bancorp, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TBBK shares. Keefe, Bruyette & Woods cut their price objective on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 5th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Finally, Raymond James lifted their target price on shares of Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.