HMS Capital Management LLC Makes New Investment in The Bancorp, Inc. (NASDAQ:TBBK)

HMS Capital Management LLC purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the third quarter, Holdings Channel.com reports. The fund purchased 7,809 shares of the bank’s stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TBBK. Nantahala Capital Management LLC purchased a new stake in Bancorp during the second quarter worth about $12,757,000. Jupiter Asset Management Ltd. increased its stake in shares of Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after buying an additional 164,855 shares during the period. Marshall Wace LLP increased its stake in shares of Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after buying an additional 96,072 shares during the period. Jane Street Group LLC increased its stake in shares of Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after buying an additional 70,361 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after buying an additional 70,178 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TBBK. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler upped their price target on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th.

Bancorp Price Performance

TBBK stock opened at $49.33 on Wednesday. The company has a market capitalization of $2.42 billion, a P/E ratio of 12.46 and a beta of 1.46. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.26. The business has a 50 day simple moving average of $52.14 and a 200-day simple moving average of $43.85. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, equities analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insider Activity

In other news, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the sale, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was acquired at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares of the company’s stock, valued at $2,838,029.96. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Bancorp 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.