Napa Wealth Management Takes $358,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Napa Wealth Management bought a new position in The Bancorp, Inc. (NASDAQ:TBBK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,685 shares of the bank’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TBBK. Blue Trust Inc. grew its position in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after buying an additional 291 shares during the period. US Bancorp DE purchased a new position in shares of Bancorp during the third quarter valued at $83,000. EverSource Wealth Advisors LLC raised its position in Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after buying an additional 1,272 shares during the period. Finally, Summit Asset Management LLC acquired a new position in Bancorp during the third quarter valued at $281,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Trading Up 1.7 %

Shares of NASDAQ TBBK opened at $55.17 on Monday. The business has a 50 day simple moving average of $52.95 and a 200 day simple moving average of $45.17. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.46. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 13.93 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $131.34 million. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, research analysts predict that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Matthew Cohn purchased 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the transaction, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 73,114 shares in the company, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,983 shares of company stock worth $1,345,366. Corporate insiders own 5.20% of the company’s stock.

Bancorp Company 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.