Emerald Advisers LLC Has $26.40 Million Position in The Bancorp, Inc. $TBBK

Key Points

• Emerald Advisers LLC cut its Bancorp stake by 17.4% in the first quarter, but still held 491,340 shares worth about $26.4 million as of its latest filing.
• Other institutional investors were active in TBBK, with some adding shares and others trimming positions; overall, institutions own 96.22% of the company.
• Bancorp reported Q1 EPS of $1.41, beating estimates, while analysts remain generally positive with a Moderate Buy rating and an average price target of $61.50.

Emerald Advisers LLC lessened its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 17.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 491,340 shares of the bank's stock after selling 103,343 shares during the period. Emerald Advisers LLC owned 1.17% of Bancorp worth $26,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TBBK. Principal Financial Group Inc. boosted its position in Bancorp by 8.3% during the first quarter. Principal Financial Group Inc. now owns 352,786 shares of the bank's stock worth $18,955,000 after purchasing an additional 27,058 shares during the period. Fifth Third Bancorp raised its position in shares of Bancorp by 3,498.2% in the first quarter. Fifth Third Bancorp now owns 9,751 shares of the bank's stock valued at $524,000 after purchasing an additional 9,480 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Bancorp in the first quarter valued at about $2,699,000. Janney Montgomery Scott LLC lifted its stake in shares of Bancorp by 4.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank's stock worth $368,000 after buying an additional 267 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Bancorp by 11.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,985 shares of the bank's stock worth $375,000 after buying an additional 739 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Zacks Research raised shares of Bancorp from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Wall Street Zen upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Keefe, Bruyette & Woods upgraded Bancorp from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $72.00 to $77.00 in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.50.

Bancorp Trading Down 0.0%

Shares of NASDAQ:TBBK opened at $66.49 on Tuesday. The company has a market capitalization of $2.77 billion, a P/E ratio of 12.94 and a beta of 1.19. The Bancorp, Inc. has a 1 year low of $50.20 and a 1 year high of $81.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88. The business's 50 day simple moving average is $57.88 and its 200 day simple moving average is $59.51.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. On average, research analysts anticipate that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In related news, EVP Erika R. Caesar sold 4,470 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares in the company, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Maria Wainwright sold 8,400 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the transaction, the chief marketing officer directly owned 24,942 shares of the company's stock, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.00% of the company's stock.

Bancorp Company Profile

The Bancorp, Inc NASDAQ: TBBK is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company's product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.

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