Epoch Investment Partners Inc. Sells 176,312 Shares of The Bancorp, Inc. $TBBK

Key Points

• Epoch Investment Partners cut its Bancorp stake by 92.2% in the first quarter, selling 176,312 shares and retaining 14,930 shares valued at approximately $802,000. Institutional investors collectively own 96.22% of TBBK.
• Bancorp reported quarterly EPS of $1.41, beating estimates of $1.34, with a 30.56% return on equity and a 26.92% net margin. Revenue of $132.5 million was below the $189.17 million analyst consensus.
• Analyst sentiment is generally positive: TBBK has a consensus rating of “Moderate Buy”, including one Strong Buy and four Buy ratings, while Keefe, Bruyette & Woods raised its target price to $77.

Epoch Investment Partners Inc. cut its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 92.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,930 shares of the bank's stock after selling 176,312 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Bancorp were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in Bancorp in the 4th quarter valued at $27,000. Lazard Asset Management LLC bought a new stake in shares of Bancorp in the 2nd quarter worth $53,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bancorp by 732.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank's stock valued at $56,000 after purchasing an additional 659 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Bancorp in the third quarter valued at about $66,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Bancorp during the fourth quarter valued at about $68,000. Institutional investors own 96.22% of the company's stock.

Bancorp Stock Performance

NASDAQ:TBBK opened at $66.98 on Monday. The company has a market capitalization of $2.79 billion, a P/E ratio of 13.03 and a beta of 1.19. The business has a fifty day simple moving average of $59.86 and a two-hundred day simple moving average of $59.40. 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 Bancorp, Inc. has a 1 year low of $50.20 and a 1 year high of $81.65.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TBBK shares. Weiss Ratings raised shares of Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Keefe, Bruyette & Woods raised Bancorp from a "market perform" rating to an "outperform" rating and upped their target price for the company from $72.00 to $77.00 in a report on Thursday, July 9th. Zacks Research raised Bancorp from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Finally, Bank of America reissued a "buy" rating on shares of Bancorp in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.40.

Insider Transactions at Bancorp

In other news, EVP Erika R. Caesar sold 4,470 shares of Bancorp stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total value of $269,451.60. Following the completion of the transaction, the executive vice president owned 32,880 shares in the company, valued at $1,982,006.40. This trade represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was 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 $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. 6.00% of the stock is owned by company insiders.

About Bancorp

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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