Vanguard Group Inc. decreased its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,607,818 shares of the bank's stock after selling 78,915 shares during the quarter. Vanguard Group Inc. owned about 6.72% of Bancorp worth $124,470,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings in shares of Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank's stock worth $35,000 after purchasing an additional 935 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Bancorp by 121.4% in the 1st quarter. JPMorgan Chase & Co. now owns 77,368 shares of the bank's stock worth $2,192,000 after purchasing an additional 42,423 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Bancorp by 15.8% in the 1st quarter. Raymond James & Associates now owns 19,287 shares of the bank's stock worth $546,000 after purchasing an additional 2,638 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Bancorp by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 542,380 shares of the bank's stock worth $15,366,000 after purchasing an additional 12,020 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of Bancorp in the 1st quarter worth $87,000. Hedge funds and other institutional investors own 96.22% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently commented on TBBK. Piper Sandler lifted their price objective on Bancorp from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, December 21st. StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, March 6th. Finally, Raymond James boosted their price target on Bancorp from $42.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, January 29th.
View Our Latest Stock Analysis on TBBK
Insider Buying and Selling
In related news, Director Matthew Cohn acquired 2,485 shares of the firm's stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the transaction, the director now directly owns 157,627 shares in the company, valued at approximately $5,392,419.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Bancorp news, Director Stephanie B. Mudick bought 2,000 shares of the business's stock in a transaction dated Tuesday, March 12th. The shares were purchased at an average price of $37.11 per share, with a total value of $74,220.00. Following the completion of the purchase, the director now owns 31,584 shares in the company, valued at approximately $1,172,082.24. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn bought 2,485 shares of the business's stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the purchase, the director now owns 157,627 shares of the company's stock, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 7,800 shares of company stock worth $308,838. Corporate insiders own 4.30% of the company's stock.
Bancorp Price Performance
Shares of NASDAQ:TBBK traded down $0.68 during mid-day trading on Wednesday, reaching $31.75. The stock had a trading volume of 427,383 shares, compared to its average volume of 648,535. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.67 billion, a P/E ratio of 9.27 and a beta of 1.45. The Bancorp, Inc. has a 1 year low of $25.97 and a 1 year high of $47.11. The business's 50 day moving average price is $39.84 and its 200 day moving average price is $38.23.
Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, January 25th. The bank reported $0.95 EPS for the quarter, hitting analysts' consensus estimates of $0.95. The company had revenue of $119.15 million for the quarter, compared to the consensus estimate of $118.52 million. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. Research analysts expect that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.
Bancorp Profile
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Free Report)
The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.
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