The Bancorp, Inc. $TBBK Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 84.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,141 shares of the bank’s stock after selling 49,257 shares during the period. Quantbot Technologies LP’s holdings in Bancorp were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Intech Investment Management LLC boosted its position in Bancorp by 86.1% during the third quarter. Intech Investment Management LLC now owns 37,821 shares of the bank’s stock worth $2,832,000 after acquiring an additional 17,495 shares during the last quarter. US Bancorp DE acquired a new stake in Bancorp in the 3rd quarter valued at about $261,000. TD Asset Management Inc purchased a new position in Bancorp in the 3rd quarter worth approximately $7,642,000. Chase Investment Counsel Corp boosted its holdings in shares of Bancorp by 9.4% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,780 shares of the bank’s stock worth $1,031,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Bancorp during the 3rd quarter worth approximately $511,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Price Performance

Bancorp stock opened at $52.66 on Friday. The company’s 50 day simple moving average is $63.07 and its 200-day simple moving average is $68.36. 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 Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.70 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 25.94%.The company had revenue of $132.21 million for the quarter, compared to analysts’ expectations of $101.10 million. As a group, equities research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating on shares of Bancorp in a report on Monday, February 9th. Zacks Research cut Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Wolfe Research set a $57.00 price objective on Bancorp in a report on Monday, February 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.20.

Insiders Place Their Bets

In other news, CFO Dominic C. Canuso purchased 2,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average cost of $60.54 per share, for a total transaction of $121,080.00. Following the completion of the transaction, the chief financial officer directly owned 16,169 shares in the company, valued at approximately $978,871.26. This represents a 14.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Cohn acquired 680 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $62.14 per share, with a total value of $42,255.20. Following the completion of the purchase, the director directly owned 3,655 shares of the company’s stock, valued at approximately $227,121.70. This represents a 22.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 9,080 shares of company stock worth $548,933 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Bancorp 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.