Y Intercept Hong Kong Ltd Makes New $2.70 Million Investment in The Bancorp, Inc. $TBBK

Y Intercept Hong Kong Ltd purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,238 shares of the bank’s stock, valued at approximately $2,699,000. Y Intercept Hong Kong Ltd owned 0.12% of Bancorp as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new position in Bancorp during the 4th quarter worth about $27,000. Lazard Asset Management LLC acquired a new stake in shares of Bancorp during the second quarter worth about $53,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Bancorp by 732.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after purchasing an additional 659 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Bancorp in the third quarter valued at approximately $66,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Bancorp in the fourth quarter valued at approximately $68,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Erika R. Caesar sold 4,470 shares of Bancorp stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the sale, the executive vice president directly owned 32,880 shares in the company, valued at $1,982,006.40. This trade represents a 11.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the sale, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.00% of the stock is currently owned by company insiders.

Bancorp Stock Up 1.0%

Shares of NASDAQ TBBK opened at $65.62 on Wednesday. The business has a 50-day moving average of $57.42 and a two-hundred day moving average of $59.62. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 12.77 and a beta of 1.19. The Bancorp, Inc. has a 1 year low of $50.20 and a 1 year high of $81.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. On average, analysts forecast that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Zacks Research upgraded shares of Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler began coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.50.

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.