Paloma Partners Management Co Buys New Position in The Bancorp, Inc. (NASDAQ:TBBK)

Paloma Partners Management Co bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,978 shares of the bank’s stock, valued at approximately $267,000.

A number of other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of Bancorp by 51.5% in the 1st quarter. Lazard Asset Management LLC now owns 15,296 shares of the bank’s stock valued at $511,000 after purchasing an additional 5,201 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Bancorp in the 1st quarter valued at about $785,000. EntryPoint Capital LLC raised its stake in Bancorp by 145.6% during the 1st quarter. EntryPoint Capital LLC now owns 9,415 shares of the bank’s stock valued at $315,000 after acquiring an additional 5,581 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Bancorp by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after acquiring an additional 302 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Bancorp during the 1st quarter valued at approximately $444,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bancorp

In other news, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Hersh Kozlov acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $32.53 per share, with a total value of $32,530.00. Following the purchase, the director now directly owns 111,264 shares of the company’s stock, valued at approximately $3,619,417.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at $491,131.16. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,706 shares of company stock valued at $54,962. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Piper Sandler upped their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a research note on Monday.

Bancorp Stock Performance

Shares of TBBK stock traded up $0.28 during trading hours on Tuesday, reaching $50.76. 148,518 shares of the company’s stock were exchanged, compared to its average volume of 632,366. The company has a market cap of $2.65 billion, a P/E ratio of 13.72 and a beta of 1.47. The company’s 50 day moving average is $38.23 and its two-hundred day moving average is $37.49. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $53.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84.

Bancorp Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.