The Bancorp, Inc. $TBBK Shares Bought by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management increased its stake in The Bancorp by 269.3% in the fourth quarter, ending with 174,013 shares valued at about $11.75 million.
• Insider selling was reported by executives, including CMO Maria Wainwright and EVP Erika R. Caesar, who both reduced their holdings in late April.
• Bancorp beat earnings expectations with Q1 EPS of $1.41 versus the $1.34 consensus, though revenue came in below estimates; analysts currently rate the stock a “Moderate Buy” with a $59.50 average price target.

Boothbay Fund Management LLC grew its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 269.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,013 shares of the bank's stock after acquiring an additional 126,897 shares during the quarter. Boothbay Fund Management LLC owned about 0.40% of Bancorp worth $11,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. lifted its position in shares of Bancorp by 4.8% in the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank's stock valued at $208,327,000 after acquiring an additional 126,302 shares in the last quarter. Nantahala Capital Management LLC lifted its position in Bancorp by 25.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank's stock worth $72,360,000 after buying an additional 219,351 shares during the period. Brown Advisory Inc. lifted its position in Bancorp by 8.5% during the fourth quarter. Brown Advisory Inc. now owns 905,876 shares of the bank's stock worth $61,165,000 after buying an additional 71,299 shares during the period. Ameriprise Financial Inc. lifted its position in Bancorp by 273.2% during the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank's stock worth $46,574,000 after buying an additional 455,265 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Bancorp by 43.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank's stock worth $34,279,000 after buying an additional 154,539 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CMO Maria Wainwright sold 8,400 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the transaction, the chief marketing officer owned 24,942 shares of the company's stock, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the business's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president directly owned 32,880 shares of the company's stock, valued at $1,982,006.40. This represents a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.00% of the company's stock.

Bancorp Trading Down 1.3%

NASDAQ:TBBK opened at $55.29 on Thursday. 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 business's 50 day moving average is $56.84 and its two-hundred day moving average is $60.15. The Bancorp, Inc. has a 52 week low of $49.66 and a 52 week high of $81.65. The company has a market cap of $2.30 billion, a PE ratio of 10.76 and a beta of 1.21.

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

Analyst Ratings Changes

A number of research firms have recently commented on TBBK. Zacks Research upgraded Bancorp from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Weiss Ratings downgraded Bancorp from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Piper Sandler began coverage on Bancorp in a report on Thursday, March 12th. They issued an "overweight" rating and a $66.00 price objective on the stock. Finally, Wall Street Zen upgraded Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $59.50.

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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