Alberta Investment Management Corp Buys 8,993 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Alberta Investment Management Corp increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,409 shares of the bank's stock after purchasing an additional 8,993 shares during the quarter. Alberta Investment Management Corp owned 0.19% of Bancorp worth $4,936,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TBBK. GAMMA Investing LLC raised its position in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after buying an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Bancorp in the first quarter valued at approximately $169,000. Ethic Inc. bought a new position in Bancorp in the fourth quarter valued at approximately $209,000. Wedbush Securities Inc. acquired a new position in Bancorp during the fourth quarter valued at approximately $213,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Bancorp during the first quarter worth $227,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on TBBK. Oppenheimer reaffirmed an "outperform" rating on shares of Bancorp in a report on Friday, July 18th. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Morgan Stanley reissued an "overweight" rating and set a $52.00 target price on shares of Bancorp in a research note on Friday, July 18th. Barclays reissued a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Bancorp Price Performance

Shares of TBBK opened at $62.49 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.92 billion, a PE ratio of 13.44 and a beta of 1.25. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $70.63. The business has a 50-day simple moving average of $58.02 and a two-hundred day simple moving average of $54.76.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.01. The company had revenue of $138.00 million for the quarter, compared to analysts' expectations of $94.87 million. Bancorp had a return on equity of 27.24% and a net margin of 32.85%. Analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn purchased 500 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $63.00 per share, with a total value of $31,500.00. Following the completion of the purchase, the director owned 59,611 shares of the company's stock, valued at approximately $3,755,493. The trade was a 0.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Damian Kozlowski sold 39,659 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total value of $2,488,205.66. Following the completion of the sale, the chief executive officer owned 657,656 shares of the company's stock, valued at $41,261,337.44. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 1,912 shares of company stock worth $122,856 and have sold 300,000 shares worth $19,260,310. Insiders own 5.60% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.