The Bancorp, Inc. (NASDAQ:TBBK) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,362,668 shares of the bank’s stock after acquiring an additional 6,459 shares during the quarter. Geode Capital Management LLC owned approximately 2.84% of Bancorp worth $72,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TBBK. American Century Companies Inc. raised its stake in 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 purchasing an additional 70,178 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Bancorp by 11.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock valued at $16,717,000 after buying an additional 46,115 shares during the period. Victory Capital Management Inc. lifted its holdings in Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in Bancorp in the second quarter worth approximately $12,757,000. Finally, Marshall Wace LLP increased its stake in 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 acquiring an additional 96,072 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Trading Up 2.6 %

TBBK opened at $53.31 on Friday. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $55.24 and a 200-day simple moving average of $49.06. The firm has a market cap of $2.56 billion, a P/E ratio of 13.46 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last announced 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). The firm had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same quarter last year, the business earned $0.92 earnings per share. On average, equities analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday.

Insider Activity at Bancorp

In other news, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the sale, the executive vice president now directly owns 74,798 shares in the company, valued at approximately $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the business’s 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 transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,983 shares of company stock worth $1,345,366. Corporate insiders own 5.20% of the company’s stock.

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.