The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,433 shares of the bank’s stock after selling 2,470 shares during the period. Congress Asset Management Co. owned approximately 0.44% of Bancorp worth $11,419,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Bancorp by 55.9% during the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock worth $2,690,000 after acquiring an additional 18,027 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Bancorp by 24.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,800 shares of the bank’s stock valued at $1,593,000 after acquiring an additional 5,800 shares during the last quarter. GAMMA Investing LLC increased its holdings in Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after acquiring an additional 327 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Bancorp in the second quarter valued at about $12,757,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Trading Down 0.3 %

NASDAQ TBBK opened at $50.26 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $59.26. The company’s 50 day moving average price is $52.25 and its 200 day moving average price is $43.31. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.69 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, sell-side analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, Piper Sandler increased their target price on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

Insider Activity

In related news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the sale, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the sale, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

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.