UBS Group AG Sells 36,243 Shares of The Bancorp, Inc. $TBBK

Key Points

• UBS Group AG reduced its stake in Bancorp by 11.9% in the fourth quarter, selling 36,243 shares and leaving it with 268,695 shares valued at about $18.1 million.
• Analysts remain cautiously positive on TBBK, with a consensus rating of “Moderate Buy” and an average price target of $59.50. Recent ratings ranged from hold to strong buy, with Bank of America and RBC setting targets around $57 to $60.
• Bancorp reported mixed quarterly results, beating EPS estimates at $1.41 per share but missing revenue expectations at $132.5 million. The stock was trading around $53.55, below its recent average prices and well off its 52-week high.

UBS Group AG lowered its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,695 shares of the bank's stock after selling 36,243 shares during the quarter. UBS Group AG owned approximately 0.61% of Bancorp worth $18,142,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TBBK. Rothschild Investment LLC raised its position in Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank's stock valued at $26,000 after purchasing an additional 235 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Bancorp by 78.6% during the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank's stock worth $30,000 after buying an additional 176 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Bancorp during the 2nd quarter worth $53,000. Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $56,000 after buying an additional 659 shares during the period. Finally, IFP Advisors Inc bought a new stake in shares of Bancorp in the third quarter valued at about $66,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TBBK. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Bancorp in a research note on Friday, March 27th. Raymond James Financial reissued a "strong-buy" rating on shares of Bancorp in a research report on Tuesday, January 13th. Bank of America set a $60.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Zacks Research raised shares of Bancorp from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $57.00 price objective on shares of Bancorp in a research note on Wednesday, January 21st. One equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Bancorp Trading Down 2.8%

Shares of NASDAQ TBBK opened at $53.55 on Wednesday. The Bancorp, Inc. has a 1-year low of $48.86 and a 1-year high of $81.65. The business has a fifty day moving average price of $56.17 and a 200 day moving average price of $62.18. The stock has a market capitalization of $2.23 billion, a P/E ratio of 10.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its 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 analyst estimates of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. Equities research analysts expect that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

Insider Activity

In related news, CMO Maria Wainwright sold 8,400 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were 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 in the company, valued at $1,502,506.08. The trade was a 25.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Erika R. Caesar sold 4,470 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the sale, the executive vice president directly owned 32,880 shares of the company's stock, valued at $1,982,006.40. The trade was a 11.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,370 shares of company stock worth $1,014,778. Corporate insiders own 6.00% of the company's stock.

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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