Royce & Associates LP Purchases Shares of 7,180 The Bancorp, Inc. (NASDAQ:TBBK)

Royce & Associates LP bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,180 shares of the bank's stock, valued at approximately $379,000.

Other large investors have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its stake in shares of Bancorp by 1.2% in the 1st quarter. SummerHaven Investment Management LLC now owns 19,246 shares of the bank's stock worth $1,017,000 after acquiring an additional 236 shares during the period. Arete Wealth Advisors LLC lifted its stake in shares of Bancorp by 2.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank's stock worth $508,000 after acquiring an additional 242 shares during the period. Napa Wealth Management lifted its stake in shares of Bancorp by 3.8% in the 4th quarter. Napa Wealth Management now owns 6,940 shares of the bank's stock worth $365,000 after acquiring an additional 255 shares during the period. First Hawaiian Bank lifted its stake in shares of Bancorp by 3.3% in the 1st quarter. First Hawaiian Bank now owns 12,136 shares of the bank's stock worth $641,000 after acquiring an additional 385 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Bancorp by 3.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank's stock worth $635,000 after acquiring an additional 408 shares during the period. Institutional investors and hedge funds own 96.22% of the company's stock.

Insiders Place Their Bets

In other Bancorp news, Director Matthew Cohn bought 1,350 shares of the stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $64.80 per share, for a total transaction of $87,480.00. Following the completion of the purchase, the director directly owned 1,350 shares in the company, valued at approximately $87,480. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Damian Kozlowski sold 39,659 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total transaction of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares of the company's stock, valued at approximately $41,261,337.44. The trade was a 5.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 300,000 shares of company stock valued at $19,260,310. Insiders own 5.60% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. Barclays restated a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods restated a "market perform" rating and set a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Finally, Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Bancorp currently has an average rating of "Moderate Buy" and an average price target of $62.00.

Bancorp Trading Down 1.1%

TBBK stock traded down $0.67 during midday trading on Friday, reaching $62.49. 1,104,497 shares of the company's stock traded hands, compared to its average volume of 588,541. The company has a market capitalization of $2.92 billion, a P/E ratio of 13.44 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $70.63. The business has a 50-day moving average price of $57.79 and a two-hundred day moving average price of $54.70.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.01. Bancorp had a net margin of 32.85% and a return on equity of 27.24%. The business had revenue of $138.00 million for the quarter, compared to analysts' expectations of $94.87 million. Equities research analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

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.