Whittier Trust Co. of Nevada Inc. Has $63,000 Stock Position in The Bancorp, Inc. $TBBK

Key Points

• Whittier Trust Co. of Nevada cut its Bancorp stake by 98.5% in the first quarter, leaving it with just 1,122 shares valued at about $63,000.
• Bancorp reported mixed quarterly results: EPS of $1.41 beat expectations, but revenue of $132.5 million fell short of estimates. The stock opened at $63.03 and was described as trading down 3.9%.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $59.50; however, recent insider sales by executives also stood out in the filing.

Whittier Trust Co. of Nevada Inc. lowered its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 98.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,122 shares of the bank's stock after selling 73,930 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Bancorp were worth $63,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of Bancorp by 4.8% during 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 during the period. Nantahala Capital Management LLC boosted its stake in Bancorp by 25.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank's stock worth $72,360,000 after purchasing an additional 219,351 shares during the period. Brown Advisory Inc. increased its holdings in Bancorp by 8.5% during the 4th quarter. Brown Advisory Inc. now owns 905,876 shares of the bank's stock worth $61,165,000 after purchasing an additional 71,299 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Bancorp by 273.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank's stock worth $46,574,000 after purchasing an additional 455,265 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised 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 period. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Trading Down 3.9%

Bancorp stock opened at $63.03 on Thursday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 12.26 and a beta of 1.19. The firm has a 50-day moving average of $57.50 and a 200-day moving average of $59.58. 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 one year low of $50.20 and a one year high of $81.65.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) 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 business had revenue of $132.50 million for the quarter, compared to the consensus estimate of $189.17 million. On average, equities analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TBBK has been the subject of several recent research reports. Weiss Ratings raised Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 30th. Zacks Research raised Bancorp from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Piper Sandler started coverage on Bancorp in a research note on Thursday, March 12th. They issued an "overweight" rating and a $66.00 target price on the stock. Finally, Wall Street Zen raised Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.50.

Insider Activity at Bancorp

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 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 approximately $1,982,006.40. This represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Maria Wainwright sold 8,400 shares of the stock in a transaction 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 sale, the chief marketing officer owned 24,942 shares of the company's stock, valued at approximately $1,502,506.08. This represents a 25.19% decrease in their position. The SEC filing for this sale provides additional information. 6.00% of the stock is owned by insiders.

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.

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