State Street Corp Has $163.90 Million Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

State Street Corp cut its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,063,515 shares of the bank’s stock after selling 295,483 shares during the period. State Street Corp owned about 6.39% of Bancorp worth $163,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nantahala Capital Management LLC acquired a new position in Bancorp during the second quarter worth $12,757,000. Lisanti Capital Growth LLC acquired a new position in Bancorp during the third quarter worth $6,100,000. Marshall Wace LLP increased its holdings in Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after buying an additional 96,072 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in Bancorp by 42.3% during the third quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after buying an additional 70,768 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after buying an additional 70,178 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Cohn acquired 545 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the transaction, the director now directly owns 56,636 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is owned by company insiders.

Bancorp Trading Up 0.5 %

TBBK stock opened at $56.08 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The company has a fifty day moving average price of $55.21 and a two-hundred day moving average price of $48.32. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $61.17. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 14.16 and a beta of 1.48.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday.

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.