Allspring Global Investments Holdings LLC Sells 6,614 Shares of The Bancorp, Inc. $TBBK

Allspring Global Investments Holdings LLC lowered its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 39.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,138 shares of the bank's stock after selling 6,614 shares during the period. Allspring Global Investments Holdings LLC's holdings in Bancorp were worth $590,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Bancorp by 20.7% in the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank's stock worth $143,354,000 after buying an additional 466,139 shares during the period. American Century Companies Inc. boosted its holdings in shares of Bancorp by 9.8% during the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock valued at $138,908,000 after purchasing an additional 235,303 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Bancorp by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank's stock valued at $96,248,000 after purchasing an additional 93,586 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of Bancorp by 63.1% during the 1st quarter. Emerald Advisers LLC now owns 548,269 shares of the bank's stock valued at $28,971,000 after purchasing an additional 212,102 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Bancorp by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 456,613 shares of the bank's stock valued at $24,127,000 after purchasing an additional 10,468 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

Bancorp Stock Up 1.1%

Shares of NASDAQ TBBK opened at $75.58 on Friday. The firm's 50-day moving average price is $75.10 and its 200-day moving average price is $62.13. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 16.25 and a beta of 1.31. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $138.00 million for the quarter, compared to analysts' expectations of $94.87 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ryan Harris sold 9,841 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $76.37, for a total value of $751,557.17. Following the sale, the executive vice president directly owned 129,598 shares of the company's stock, valued at $9,897,399.26. This represents a 7.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gregor J. Garry sold 12,532 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $75.14, for a total transaction of $941,654.48. Following the completion of the sale, the chief operating officer directly owned 110,107 shares in the company, valued at $8,273,439.98. This trade represents a 10.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 2,462 shares of company stock valued at $157,786 and sold 322,841 shares valued at $20,990,025. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TBBK has been the subject of several research reports. Weiss Ratings downgraded shares of Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $65.00 price objective on shares of Bancorp in a report on Friday, July 11th. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Morgan Stanley reissued an "overweight" rating and set a $52.00 price objective on shares of Bancorp in a report on Friday, July 18th. Finally, Barclays reissued a "buy" rating on shares of Bancorp in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Bancorp has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.

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