The Bancorp, Inc. $TBBK Shares Sold by Owls Nest Partners IA LLC

Key Points

• Owls Nest Partners IA LLC trimmed its Bancorp stake by 20.2% in the fourth quarter, but it still remains a major holder with 973,790 shares worth about $65.75 million, or 2.22% of the company.
• Several institutional investors recently adjusted positions in TBBK, and overall institutional ownership remains high at 96.22% of the stock.
• Insiders also sold shares: EVP Erika R. Caesar and CMO Maria Wainwright both reduced their holdings, while analysts currently rate the stock a Moderate Buy with a consensus price target of $59.50.

Owls Nest Partners IA LLC cut its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 973,790 shares of the bank's stock after selling 246,947 shares during the quarter. Bancorp comprises 18.2% of Owls Nest Partners IA LLC's investment portfolio, making the stock its largest holding. Owls Nest Partners IA LLC owned approximately 2.22% of Bancorp worth $65,750,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TBBK. Rothschild Investment LLC lifted its holdings in shares of Bancorp by 213.6% during the third quarter. Rothschild Investment LLC now owns 345 shares of the bank's stock worth $26,000 after buying an additional 235 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Bancorp during the fourth quarter worth approximately $27,000. Bessemer Group Inc. lifted its holdings in shares of Bancorp by 78.6% during the third quarter. Bessemer Group Inc. now owns 400 shares of the bank's stock worth $30,000 after buying an additional 176 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Bancorp during the second quarter worth approximately $53,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Bancorp by 732.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank's stock worth $56,000 after buying an additional 659 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bancorp news, EVP Erika R. Caesar sold 4,470 shares of the company's stock in a transaction 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 directly owned 32,880 shares in the company, valued at $1,982,006.40. This represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Maria Wainwright sold 8,400 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the sale, the chief marketing officer owned 24,942 shares in the company, valued at $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. Corporate insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

Bancorp Stock Performance

TBBK opened at $57.46 on Monday. The stock has a market cap of $2.39 billion, a PE ratio of 11.18 and a beta of 1.21. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 1 year low of $49.36 and a 1 year high of $81.65. The stock's 50 day simple moving average is $56.84 and its 200-day simple moving average is $60.33.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share 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. Sell-side analysts forecast that The Bancorp, Inc. will post 5.95 EPS for the current year.

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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