The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Banc Funds Co. LLC

Banc Funds Co. LLC lessened its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,592 shares of the bank’s stock after selling 2,000 shares during the quarter. Banc Funds Co. LLC’s holdings in Bancorp were worth $2,439,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TBBK. The Manufacturers Life Insurance Company boosted its position in Bancorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock valued at $1,056,000 after buying an additional 234 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after acquiring an additional 291 shares during the period. Legend Financial Advisors Inc. raised its holdings in shares of Bancorp by 2.1% during the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after purchasing an additional 380 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Bancorp by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank’s stock valued at $815,000 after purchasing an additional 476 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $58.43 on Monday. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $54.34 and its 200-day simple moving average is $46.90. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 14.76 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same quarter last year, the business earned $0.92 earnings per share. Analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 25th.

Insider Buying and Selling at Bancorp

In related news, Director Matthew Cohn acquired 545 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were acquired at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the acquisition, the director now directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction of $267,997.98. Following the sale, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,983 shares of company stock valued at $1,345,366. Company 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.