First Hawaiian Bank Sells 8,576 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

First Hawaiian Bank lowered its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 42.2% in the 4th quarter, HoldingsChannel reports. The firm owned 11,751 shares of the bank’s stock after selling 8,576 shares during the quarter. First Hawaiian Bank’s holdings in Bancorp were worth $618,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TBBK. Blue Trust Inc. increased its holdings in shares of Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Bancorp in the third quarter worth about $54,000. GAMMA Investing LLC increased its holdings in shares of Bancorp by 42.4% in the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after buying an additional 327 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the period. Finally, National Bank of Canada FI purchased a new position in shares of Bancorp in the third quarter worth about $77,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Down 3.1 %

Shares of NASDAQ:TBBK opened at $50.30 on Friday. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17. The company has a market cap of $2.41 billion, a PE ratio of 12.70 and a beta of 1.49. 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 stock’s 50-day moving average is $54.94 and its 200 day moving average is $51.00.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (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 analysts’ expectations of $131.34 million. During the same quarter in the prior year, the firm earned $0.92 EPS. Sell-side analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current year.

Wall Street Analyst Weigh In

TBBK has been the topic of several analyst reports. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Piper Sandler boosted their price target on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd.

Insiders Place Their Bets

In other news, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were purchased at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,983 shares of company stock worth $1,345,366. Company insiders own 5.20% of the company’s stock.

About Bancorp

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.