Emerald Mutual Fund Advisers Trust Has $17.67 Million Position in The Bancorp, Inc. $TBBK

Key Points

• Emerald Mutual Fund Advisers Trust cut its Bancorp stake by 7.0% in the first quarter, but still held 328,845 shares valued at about $17.67 million at quarter-end.
• Analyst sentiment on Bancorp has improved, with several recent upgrades and a current consensus rating of “Moderate Buy”; the average price target is $61.50.
• Bancorp reported Q1 EPS of $1.41, beating estimates, while insiders recently sold shares and the stock traded at $66.49 with a market cap of about $2.77 billion.

Emerald Mutual Fund Advisers Trust lessened its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 7.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,845 shares of the bank's stock after selling 24,757 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.79% of Bancorp worth $17,669,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Penn Capital Management Company LLC bought a new position in shares of Bancorp during the third quarter valued at $13,422,000. Boothbay Fund Management LLC bought a new stake in shares of Bancorp in the third quarter worth $3,529,000. Hennessy Advisors Inc. increased its holdings in Bancorp by 33.3% in the fourth quarter. Hennessy Advisors Inc. now owns 40,000 shares of the bank's stock valued at $2,701,000 after purchasing an additional 10,000 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in Bancorp during the 4th quarter worth $7,427,000. Finally, SG Americas Securities LLC lifted its holdings in Bancorp by 479.2% during the 1st quarter. SG Americas Securities LLC now owns 84,465 shares of the bank's stock worth $4,538,000 after buying an additional 69,881 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at Bancorp

In other news, EVP Erika R. Caesar sold 4,470 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction 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 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 sale, the chief marketing officer directly owned 24,942 shares of the company's stock, valued at $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.00% of the company's stock.

Bancorp Stock Performance

Shares of TBBK stock opened at $66.49 on Tuesday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 12.94 and a beta of 1.19. The Bancorp, Inc. has a 52 week low of $50.20 and a 52 week high of $81.65. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $57.88 and a 200-day moving average of $59.51.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The company had revenue of $132.50 million for the quarter, compared to the consensus estimate of $189.17 million. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. On average, equities analysts forecast that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Bancorp 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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