Quantbot Technologies LP Trims Stake in The Bancorp, Inc. $TBBK

Key Points

• Quantbot Technologies LP cut its stake in The Bancorp by 84.3% in Q3, selling 49,257 shares and leaving 9,141 shares valued at $685,000.
• Company insiders increased their holdings—Director Mark E. Tryniski bought 5,000 shares at $60.23 and Director Matthew Cohn bought 680 shares—total insider purchases in the last three months were 9,080 shares worth $548,933, leaving insiders with 5.60% ownership.
• The Bancorp reported Q4 EPS of $1.28 (miss vs. $1.46 est.) but revenue beat at $132.21M; the stock trades below its 50- and 200-day moving averages and carries an average analyst rating of Moderate Buy with a $58.20 target.

Quantbot Technologies LP cut its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 84.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,141 shares of the bank's stock after selling 49,257 shares during the quarter. Quantbot Technologies LP's holdings in Bancorp were worth $685,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TBBK. Royal Bank of Canada increased its holdings in shares of Bancorp by 98.2% during the 1st quarter. Royal Bank of Canada now owns 76,696 shares of the bank's stock valued at $4,052,000 after purchasing an additional 37,993 shares in the last quarter. AQR Capital Management LLC grew its position in Bancorp by 15.9% during the first quarter. AQR Capital Management LLC now owns 16,734 shares of the bank's stock valued at $884,000 after buying an additional 2,296 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bancorp by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank's stock valued at $1,436,000 after buying an additional 518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Bancorp by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank's stock valued at $7,795,000 after buying an additional 8,454 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Bancorp by 145.8% in the first quarter. Jane Street Group LLC now owns 128,173 shares of the bank's stock worth $6,773,000 after acquiring an additional 76,027 shares during the period. Hedge funds and other institutional investors own 96.22% of the company's stock.

Insiders Place Their Bets

In other news, Director Matthew Cohn acquired 680 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was bought at an average cost of $62.14 per share, for a total transaction of $42,255.20. Following the purchase, the director owned 3,655 shares in the company, valued at approximately $227,121.70. This represents a 22.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark E. Tryniski bought 5,000 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was purchased at an average price of $60.23 per share, for a total transaction of $301,150.00. Following the transaction, the director owned 18,966 shares of the company's stock, valued at approximately $1,142,322.18. This represents a 35.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 9,080 shares of company stock worth $548,933. Corporate insiders own 5.60% of the company's stock.

Bancorp Stock Down 3.9%

Shares of NASDAQ TBBK opened at $52.66 on Friday. The company's 50-day simple moving average is $63.07 and its 200-day simple moving average is $68.36. The Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $81.65. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 10.70 and a beta of 1.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.18). The company had revenue of $132.21 million for the quarter, compared to analyst estimates of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 25.94%. Equities analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TBBK shares. Piper Sandler reissued an "overweight" rating on shares of Bancorp in a research note on Monday, February 9th. Raymond James Financial restated a "strong-buy" rating on shares of Bancorp in a research note on Tuesday, January 13th. Bank of America set a $60.00 price target on Bancorp in a report on Wednesday, January 21st. Royal Bank Of Canada reissued an "outperform" rating and issued a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $58.20.

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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