Intech Investment Management LLC Decreases Position in The Bancorp, Inc. $TBBK

Intech Investment Management LLC lessened its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 29.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,620 shares of the bank’s stock after selling 11,201 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Bancorp worth $1,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Bancorp by 4.8% during the 3rd 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 during the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of Bancorp by 16.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 968,503 shares of the bank’s stock valued at $55,176,000 after purchasing an additional 140,000 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Bancorp by 273.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after purchasing an additional 455,265 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Bancorp by 2.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 282,343 shares of the bank’s stock valued at $21,145,000 after purchasing an additional 6,865 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Bancorp by 57.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 281,256 shares of the bank’s stock valued at $21,063,000 after purchasing an additional 102,534 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler assumed coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective for the company. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings lowered Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Finally, Wolfe Research set a $57.00 target price on Bancorp in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Bancorp Stock Performance

Shares of TBBK stock opened at $53.54 on Friday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 10.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88. The business has a fifty day moving average of $56.54 and a 200 day moving average of $60.55. The Bancorp, Inc. has a 1 year low of $49.19 and a 1 year high of $81.65.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $132.50 million during 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%. As a group, research analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Insider Buying and Selling

In other Bancorp news, EVP Erika R. Caesar sold 4,470 shares of the stock in a transaction dated Wednesday, April 29th. The stock was 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 of the company’s stock, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ryan Harris sold 4,500 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $53.18, for a total value of $239,310.00. Following the sale, the executive vice president directly owned 150,516 shares in the company, valued at $8,004,440.88. This represents a 2.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,370 shares of company stock worth $1,014,778 in the last 90 days. Insiders own 6.00% 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.