SG Americas Securities LLC Has $4.54 Million Position in The Bancorp, Inc. $TBBK

SG Americas Securities LLC lifted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 479.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,465 shares of the bank’s stock after buying an additional 69,881 shares during the period. SG Americas Securities LLC’s holdings in Bancorp were worth $4,538,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc acquired a new stake in Bancorp during the third quarter worth $7,642,000. Penn Capital Management Company LLC acquired a new position in shares of Bancorp in the 3rd quarter valued at $13,422,000. Kennedy Capital Management LLC raised its stake in shares of Bancorp by 57.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 281,256 shares of the bank’s stock valued at $21,063,000 after buying an additional 102,534 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Bancorp during the 3rd quarter worth about $3,529,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Bancorp by 39.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 97,074 shares of the bank’s stock worth $7,270,000 after acquiring an additional 27,344 shares during the period. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Down 0.9%

Shares of NASDAQ TBBK opened at $61.68 on Tuesday. The Bancorp, Inc. has a 52-week low of $50.20 and a 52-week high of $81.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89. The business has a fifty day moving average of $56.93 and a two-hundred day moving average of $59.80. The stock has a market cap of $2.57 billion, a PE ratio of 12.00 and a beta of 1.21.

Bancorp (NASDAQ:TBBK) last posted 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 net margin of 26.92% and a return on equity of 30.56%. As a group, equities research analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 8,400 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the sale, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. This represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction that occurred on 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. The trade was a 11.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on TBBK. Weiss Ratings cut shares of Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. 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 raised Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Piper Sandler initiated coverage on Bancorp in a research note on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

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.