SG Americas Securities LLC Purchases 69,881 Shares of The Bancorp, Inc. $TBBK

Key Points

• SG Americas Securities LLC boosted its stake in The Bancorp by 479.2% in the first quarter, buying 69,881 additional shares and lifting its holdings to 84,465 shares worth about $4.54 million.
• Institutional ownership remains heavy, with hedge funds and other investors owning 96.22% of Bancorp’s stock; several firms, including Invesco, Nantahala Capital, and Brown Advisory, also increased their positions recently.
• Bancorp reported Q1 EPS of $1.41, topping analyst expectations, while analysts currently rate the stock Moderate Buy with an average price target of $59.50.

SG Americas Securities LLC increased its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 479.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,465 shares of the bank's stock after buying an additional 69,881 shares during the period. SG Americas Securities LLC owned 0.20% of Bancorp worth $4,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TBBK. Invesco Ltd. grew its position in Bancorp by 4.8% in the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank's stock worth $208,327,000 after acquiring an additional 126,302 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in shares of Bancorp by 25.7% during the 4th quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank's stock valued at $72,360,000 after purchasing an additional 219,351 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Bancorp by 8.5% during the 4th quarter. Brown Advisory Inc. now owns 905,876 shares of the bank's stock valued at $61,165,000 after purchasing an additional 71,299 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank's stock valued at $46,574,000 after purchasing an additional 455,265 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Bancorp by 43.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank's stock valued at $34,279,000 after purchasing an additional 154,539 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

Bancorp Stock Down 0.9%

Bancorp stock opened at $61.68 on Tuesday. 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 fifty-two week low of $50.20 and a fifty-two week high of $81.65. The firm has a fifty day moving average price of $56.93 and a two-hundred day moving average price of $59.80. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 12.00 and a beta of 1.21.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 30.56% and a net margin of 26.92%. As a group, analysts forecast that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Insider Activity at Bancorp

In other Bancorp news, EVP Erika R. Caesar sold 4,470 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 32,880 shares of the company's stock, valued at $1,982,006.40. This trade represents a 11.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Maria Wainwright sold 8,400 shares of the company's stock in a transaction that occurred 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 transaction, the chief marketing officer 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TBBK has been the topic of several analyst reports. Piper Sandler began coverage on shares of Bancorp in a research report on Thursday, March 12th. They set an "overweight" rating and a $66.00 target price on the stock. Weiss Ratings cut Bancorp from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Zacks Research upgraded Bancorp from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Finally, Wall Street Zen raised Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

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.

Want to see what other hedge funds are holding TBBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bancorp, Inc. (NASDAQ:TBBK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.