The Bancorp, Inc. (NASDAQ:TBBK) Stake Raised by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 20.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,794 shares of the bank’s stock after acquiring an additional 1,812 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Bancorp were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TBBK. Vanguard Group Inc. boosted its position in Bancorp by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after acquiring an additional 16,482 shares during the period. American Century Companies Inc. grew its position in Bancorp by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after buying an additional 70,178 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in Bancorp by 11.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock valued at $16,717,000 after buying an additional 46,115 shares in the last quarter. Victory Capital Management Inc. increased its stake in Bancorp by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after buying an additional 25,731 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Bancorp in the 2nd quarter worth approximately $12,757,000. 96.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TBBK. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Piper Sandler lifted their price target on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Monday.

Insider Activity at Bancorp

In other news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn purchased 545 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $60.36 on Tuesday. The company’s fifty day moving average is $53.70 and its two-hundred day moving average is $46.00. The company has a market cap of $2.89 billion, a P/E ratio of 15.24 and a beta of 1.46. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $61.17. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period in the prior year, the company posted $0.92 earnings per share. Equities analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.