Franklin Resources Inc. Grows Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Franklin Resources Inc. raised its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 925,370 shares of the bank’s stock after buying an additional 144,867 shares during the period. Franklin Resources Inc. owned approximately 1.93% of Bancorp worth $52,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Bancorp during the third quarter worth about $54,000. GAMMA Investing LLC raised its position in Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after acquiring an additional 327 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after purchasing an additional 741 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Bancorp in the third quarter valued at approximately $77,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th.

Bancorp Stock Performance

Bancorp stock opened at $55.49 on Wednesday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 14.01 and a beta of 1.48. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. 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 stock’s 50-day moving average is $55.27 and its 200-day moving average is $48.72.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (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 business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period last year, the company posted $0.92 EPS. Equities analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Transactions at Bancorp

In other news, CMO Maria Wainwright sold 11,357 shares of the 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 completion of the sale, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. This trade represents a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Cohn bought 545 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Bancorp Profile

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.