Charles Schwab Investment Management Inc. Sells 8,975 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Charles Schwab Investment Management Inc. cut its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 454,619 shares of the bank’s stock after selling 8,975 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bancorp were worth $24,322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC boosted its position in shares of 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 during the last quarter. Victory Capital Management Inc. boosted its position in Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after purchasing an additional 25,731 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Bancorp in the second quarter worth about $391,000. Raymond James & Associates boosted its position in Bancorp by 55.9% in the third quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock worth $2,690,000 after purchasing an additional 18,027 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Bancorp during the 3rd quarter valued at about $2,080,000. 96.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday.

Bancorp Stock Down 1.6 %

TBBK stock opened at $56.88 on Friday. The business’s 50-day moving average price is $54.76 and its 200-day moving average price is $47.37. The stock has a market cap of $2.73 billion, a P/E ratio of 14.36 and a beta of 1.48. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month 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.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data 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 return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same period in the previous year, the firm earned $0.92 EPS. On average, equities research analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insiders Place Their Bets

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of the company’s stock in a transaction 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 directly owns 73,114 shares in the company, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the company’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 completion of the sale, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 in the last quarter. 5.20% of the stock is currently owned by insiders.

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.