Royce & Associates LP purchased a new position in The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,900 shares of the bank’s stock, valued at approximately $415,000.
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Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Group Holdings Inc. raised its stake in Bancorp by 325.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after acquiring an additional 935 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Bancorp during the 2nd quarter valued at $29,000. Federated Hermes Inc. lifted its stake in shares of Bancorp by 35.4% during the 1st quarter. Federated Hermes Inc. now owns 2,522 shares of the bank’s stock valued at $71,000 after buying an additional 660 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Bancorp by 93.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,012 shares of the bank’s stock worth $86,000 after buying an additional 1,459 shares during the period. Finally, US Bancorp DE purchased a new stake in Bancorp in the 1st quarter worth $87,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on TBBK. StockNews.com started coverage on Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised shares of Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 15th. Finally, Piper Sandler boosted their target price on shares of Bancorp to $32.00 in a report on Tuesday, November 1st.
Bancorp Trading Down 0.1 %
Shares of TBBK stock opened at $29.17 on Friday. The stock’s 50-day moving average price is $29.18 and its 200-day moving average price is $26.13. The Bancorp, Inc. has a 12-month low of $16.59 and a 12-month high of $31.59. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 14.37 and a beta of 1.45. The company has a current ratio of 0.99, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23.
Bancorp (NASDAQ:TBBK – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The firm had revenue of $88.09 million during the quarter, compared to the consensus estimate of $88.45 million. Bancorp had a return on equity of 17.83% and a net margin of 32.42%. Equities research analysts predict that The Bancorp, Inc. will post 2.27 EPS for the current fiscal year.
Insider Buying and Selling
In other Bancorp news, Director Matthew Cohn acquired 18,040 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was acquired at an average cost of $28.00 per share, with a total value of $505,120.00. Following the purchase, the director now directly owns 39,798 shares of the company’s stock, valued at approximately $1,114,344. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by company insiders.
About Bancorp
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, and commercial accounts; and prepaid and debit cards.
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