The Bancorp, Inc. (NASDAQ:TBBK) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 55.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,276 shares of the bank’s stock after acquiring an additional 18,027 shares during the quarter. Raymond James & Associates’ holdings in Bancorp were worth $2,690,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Entropy Technologies LP lifted its stake in shares of Bancorp by 256.2% in the first quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock worth $782,000 after acquiring an additional 16,812 shares in the last quarter. Jane Street Group LLC raised its stake in Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after buying an additional 70,361 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in Bancorp during the first quarter valued at approximately $1,008,000. BNP Paribas Financial Markets raised its stake in Bancorp by 51.6% during the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock valued at $2,404,000 after buying an additional 24,453 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after buying an additional 164,855 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Insider Buying and Selling

In related news, CMO Maria Wainwright sold 11,357 shares of the 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 completion of the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the 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 completion of the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler upped their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th.

Bancorp Stock Up 1.5 %

NASDAQ:TBBK opened at $49.33 on Wednesday. The firm has a market capitalization of $2.42 billion, a PE ratio of 12.46 and a beta of 1.46. The stock has a 50 day moving average of $52.14 and a 200-day moving average of $43.85. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.26. 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 earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). The company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same period last year, the company posted $0.92 earnings per share. Analysts predict that The Bancorp, Inc. will post 4.3 EPS 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.