Whittier Trust Co. Sells 138,441 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Whittier Trust Co. decreased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 52.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,357 shares of the bank’s stock after selling 138,441 shares during the quarter. Whittier Trust Co. owned approximately 0.25% of Bancorp worth $6,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TBBK. Nantahala Capital Management LLC purchased a new position in shares of Bancorp in the 2nd quarter worth about $12,757,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Bancorp by 71.1% in the 1st 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 last quarter. Marshall Wace LLP boosted its holdings in shares of Bancorp by 39.8% in the 2nd 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 last quarter. Jane Street Group LLC boosted its holdings in shares of Bancorp by 129.0% in the 1st 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 last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Bancorp by 4.6% in the 2nd 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 last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Bancorp Price Performance

NASDAQ TBBK opened at $56.12 on Tuesday. The company has a market cap of $2.75 billion, a PE ratio of 14.61 and a beta of 1.45. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.26. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $51.67 and its two-hundred day simple moving average is $42.41.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). The business had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. Research analysts predict that The Bancorp, Inc. will post 4.37 earnings per share for the current year.

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.