Y Intercept Hong Kong Ltd Acquires Shares of 50,238 The Bancorp, Inc. $TBBK

Y Intercept Hong Kong Ltd acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,238 shares of the bank’s stock, valued at approximately $2,699,000.

Other large investors have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new position in Bancorp in the fourth quarter valued at $27,000. Lazard Asset Management LLC purchased a new stake in Bancorp during the 2nd quarter valued at approximately $53,000. Northwestern Mutual Wealth Management Co. raised its stake in Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after acquiring an additional 659 shares during the last quarter. IFP Advisors Inc acquired a new stake in Bancorp during the 3rd quarter worth approximately $66,000. Finally, Kestra Advisory Services LLC acquired a new stake in Bancorp during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TBBK shares. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. 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 shares of Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Piper Sandler initiated coverage on shares of Bancorp in a research note on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Bancorp Trading Up 1.0%

Shares of TBBK opened at $65.62 on Wednesday. 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 Bancorp, Inc. has a 1-year low of $50.20 and a 1-year high of $81.65. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 12.77 and a beta of 1.19. The firm has a 50 day simple moving average of $57.42 and a 200-day simple moving average of $59.62.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $132.50 million for the quarter, compared to analysts’ expectations of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. Equities analysts forecast that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction dated Tuesday, April 28th. The stock was 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 owned 24,942 shares in the company, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the transaction, the executive vice president directly owned 32,880 shares of the company’s stock, valued at $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 company insiders.

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.