Jupiter Asset Management Ltd. Sells 356,405 Shares of The Bancorp, Inc. $TBBK

Jupiter Asset Management Ltd. lowered its position in The Bancorp, Inc. (NASDAQ:TBBK) by 68.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 162,190 shares of the bank’s stock after selling 356,405 shares during the period. Jupiter Asset Management Ltd.’s holdings in Bancorp were worth $12,146,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Bancorp in the 3rd quarter valued at $511,000. Rothschild Investment LLC raised its position in Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after purchasing an additional 235 shares during the period. Public Sector Pension Investment Board lifted its stake in Bancorp by 12.8% in the third quarter. Public Sector Pension Investment Board now owns 179,654 shares of the bank’s stock worth $13,454,000 after purchasing an additional 20,413 shares during the last quarter. Rhumbline Advisers boosted its position in Bancorp by 0.3% during the third quarter. Rhumbline Advisers now owns 133,544 shares of the bank’s stock valued at $10,001,000 after buying an additional 450 shares during the period. Finally, Versor Investments LP purchased a new stake in Bancorp during the third quarter valued at about $614,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Wolfe Research set a $57.00 price target on Bancorp in a research report on Monday, February 9th. Piper Sandler reiterated an “overweight” rating on shares of Bancorp in a research report on Monday, February 9th. Bank of America set a $60.00 price objective on Bancorp in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $58.20.

Bancorp Trading Up 0.6%

NASDAQ TBBK opened at $58.23 on Friday. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a 50 day simple moving average of $65.93 and a two-hundred day simple moving average of $69.04. The stock has a market cap of $2.56 billion, a P/E ratio of 11.84 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.18). Bancorp had a net margin of 26.15% and a return on equity of 28.91%. The business had revenue of $132.21 million for the quarter, compared to analysts’ expectations of $101.10 million. On average, analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Dominic C. Canuso bought 2,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $60.54 per share, with a total value of $121,080.00. Following the transaction, the chief financial officer owned 16,169 shares in the company, valued at approximately $978,871.26. This trade represents a 14.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark E. Tryniski bought 5,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were bought at an average cost of $60.23 per share, for a total transaction of $301,150.00. Following the purchase, the director directly owned 18,966 shares in the company, valued at approximately $1,142,322.18. This represents a 35.80% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 9,080 shares of company stock worth $548,933. 5.60% of the stock is currently owned by corporate insiders.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.