Penn Capital Management Company LLC Makes New $13.42 Million Investment in The Bancorp, Inc. $TBBK

Penn Capital Management Company LLC bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 179,035 shares of the bank’s stock, valued at approximately $13,422,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TBBK. Invesco Ltd. raised its position in Bancorp by 4.8% during the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock valued at $208,327,000 after purchasing an additional 126,302 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Bancorp by 3.3% in the 2nd quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock valued at $154,705,000 after purchasing an additional 86,721 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Bancorp by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,373,686 shares of the bank’s stock valued at $78,266,000 after purchasing an additional 7,405 shares during the last quarter. Owls Nest Partners IA LLC increased its stake in shares of Bancorp by 6.4% in the 2nd quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank’s stock valued at $72,090,000 after purchasing an additional 75,635 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Bancorp by 11.5% during the 2nd quarter. Franklin Resources Inc. now owns 1,112,816 shares of the bank’s stock worth $63,397,000 after buying an additional 114,846 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Bank of America set a $60.00 target price on shares of Bancorp in a report on Wednesday, January 21st. Wolfe Research set a $57.00 price target on shares of Bancorp in a research note on Monday, February 9th. Finally, Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.50.

Insider Transactions at Bancorp

In other Bancorp news, Director Matthew Cohn bought 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $62.14 per share, for a total transaction of $42,255.20. Following the transaction, the director directly owned 3,655 shares in the company, valued at approximately $227,121.70. This represents a 22.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark E. Tryniski bought 5,000 shares of Bancorp stock in a transaction on Wednesday, February 4th. The shares were acquired at an average cost of $60.23 per share, for a total transaction of $301,150.00. Following the completion of the acquisition, the director directly owned 18,966 shares in the company, valued at approximately $1,142,322.18. The trade was a 35.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 9,080 shares of company stock valued at $548,933. 5.20% of the stock is currently owned by company insiders.

Bancorp Stock Up 0.1%

Shares of TBBK opened at $53.14 on Wednesday. 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 52 week low of $40.51 and a 52 week high of $81.65. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.80 and a beta of 1.31. The stock has a fifty day moving average of $60.93 and a 200-day moving average of $67.32.

Bancorp (NASDAQ:TBBK) last issued its 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). The firm had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. As a group, sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

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.