The Bancorp, Inc. $TBBK Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 44.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,250 shares of the bank’s stock after selling 112,141 shares during the quarter. JPMorgan Chase & Co.’s holdings in Bancorp were worth $10,578,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Bancorp by 98.2% in the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock valued at $4,052,000 after buying an additional 37,993 shares during the last quarter. AQR Capital Management LLC raised its position in Bancorp by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after buying an additional 2,296 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bancorp by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock valued at $1,436,000 after acquiring an additional 518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Bancorp by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock valued at $7,795,000 after acquiring an additional 8,454 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Bancorp by 145.8% in the 1st quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock valued at $6,773,000 after acquiring an additional 76,027 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Performance

NASDAQ:TBBK opened at $51.48 on Friday. 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 market capitalization of $2.17 billion, a PE ratio of 10.46 and a beta of 1.31. 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 fifty day moving average of $58.18 and a two-hundred day moving average of $66.07.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) 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 firm had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. As a group, research analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Piper Sandler started coverage on Bancorp in a research note on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective for the company. Bank of America set a $60.00 price objective on Bancorp in a report on Wednesday, January 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Activity

In other news, EVP Ryan Harris sold 4,500 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $53.18, for a total value of $239,310.00. Following the transaction, the executive vice president owned 150,516 shares of the company’s stock, valued at $8,004,440.88. This represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dominic C. Canuso bought 2,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were bought at an average cost of $60.54 per share, with a total value of $121,080.00. Following the purchase, the chief financial officer owned 16,169 shares of the company’s stock, valued at $978,871.26. This trade represents a 14.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 9,080 shares of company stock worth $548,933. 5.60% of the stock is owned by insiders.

About Bancorp

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.