The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in The Bancorp, Inc. (NASDAQ:TBBK) by 8.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,403 shares of the bank’s stock after selling 1,401 shares during the period. Amalgamated Bank’s holdings in Bancorp were worth $771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in Bancorp by 60.5% during 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 last quarter. Blue Trust Inc. grew its holdings in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares during the period. US Bancorp DE purchased a new stake in Bancorp in the third quarter valued at approximately $83,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Bancorp during the second quarter worth approximately $216,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TBBK. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler upped their price target on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn acquired 545 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the transaction, the director now owns 56,636 shares of the company’s stock, valued at $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,983 shares of company stock worth $1,345,366. Insiders own 5.20% of the company’s stock.

Bancorp Price Performance

TBBK stock opened at $55.17 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $59.46. The firm has a market capitalization of $2.64 billion, a PE ratio of 13.93 and a beta of 1.46. The firm has a 50-day moving average of $52.95 and a two-hundred day moving average of $44.97.

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