US Bancorp DE Acquires New Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

US Bancorp DE purchased a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,543 shares of the bank’s stock, valued at approximately $83,000.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after acquiring an additional 291 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after purchasing an additional 1,272 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in Bancorp in the second quarter worth about $216,000. Finally, Profund Advisors LLC acquired a new stake in Bancorp during the 2nd quarter worth $237,000. Institutional investors own 96.22% of the company’s stock.

Insiders Place Their Bets

In related news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were 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. The trade was a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. The trade was a 6.96 % 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 valued at $1,345,366. 5.20% of the stock is currently owned by insiders.

Bancorp Stock Performance

NASDAQ TBBK opened at $55.17 on Friday. The firm has a 50-day moving average price of $52.95 and a two-hundred day moving average price of $45.07. The company has a market capitalization of $2.64 billion, a P/E ratio of 13.93 and a beta of 1.46. 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 Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $59.46.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter in the previous year, the company earned $0.92 earnings per share. Analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.