Emerald Mutual Fund Advisers Trust Sells 24,757 Shares of The Bancorp, Inc. $TBBK

Emerald Mutual Fund Advisers Trust reduced its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 7.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 328,845 shares of the bank’s stock after selling 24,757 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Bancorp were worth $17,669,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Bancorp by 8.3% in the first quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank’s stock valued at $18,955,000 after purchasing an additional 27,058 shares during the last quarter. Fifth Third Bancorp grew its position in Bancorp by 3,498.2% in the 1st quarter. Fifth Third Bancorp now owns 9,751 shares of the bank’s stock worth $524,000 after purchasing an additional 9,480 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Bancorp in the 1st quarter valued at about $2,699,000. Janney Montgomery Scott LLC increased its stake in Bancorp by 4.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock valued at $368,000 after buying an additional 267 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Bancorp by 11.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,985 shares of the bank’s stock worth $375,000 after buying an additional 739 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TBBK shares. Keefe, Bruyette & Woods raised Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $72.00 to $77.00 in a report on Thursday, July 9th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings upgraded shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Bancorp presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Activity

In related news, CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the transaction, the chief marketing officer owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction on 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 approximately $1,982,006.40. The trade was a 11.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.00% of the company’s stock.

Bancorp Trading Down 0.0%

NASDAQ:TBBK opened at $66.49 on Tuesday. 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 company has a market cap of $2.77 billion, a P/E ratio of 12.94 and a beta of 1.19. The stock’s fifty day moving average price is $57.88 and its two-hundred day moving average price is $59.51.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data 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. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The business had revenue of $132.50 million for the quarter, compared to analysts’ expectations of $189.17 million. As a group, analysts expect that The Bancorp, Inc. will post 5.95 EPS for the current year.

About Bancorp

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.