The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. trimmed its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 69.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 85,149 shares of the bank's stock after selling 195,912 shares during the period. Phocas Financial Corp. owned about 0.16% of Bancorp worth $3,283,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TBBK. Epoch Investment Partners Inc. raised its stake in shares of Bancorp by 80.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank's stock valued at $25,032,000 after acquiring an additional 323,986 shares during the period. Millennium Management LLC grew its holdings in shares of Bancorp by 364.4% in the fourth quarter. Millennium Management LLC now owns 358,305 shares of the bank's stock valued at $10,169,000 after purchasing an additional 281,156 shares in the last quarter. State Street Corp grew its holdings in shares of Bancorp by 9.6% in the first quarter. State Street Corp now owns 2,735,551 shares of the bank's stock valued at $77,498,000 after purchasing an additional 239,939 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bancorp by 46.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 692,113 shares of the bank's stock valued at $19,642,000 after purchasing an additional 219,020 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Bancorp by 2.3% in the first quarter. BlackRock Inc. now owns 8,494,240 shares of the bank's stock valued at $240,641,000 after purchasing an additional 192,639 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Matthew Cohn bought 2,485 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $34.21 per share, for a total transaction of $85,011.85. Following the acquisition, the director now owns 157,627 shares in the company, valued at approximately $5,392,419.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Matthew Cohn bought 2,485 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $34.21 per share, for a total transaction of $85,011.85. Following the acquisition, the director now owns 157,627 shares in the company, valued at approximately $5,392,419.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephanie B. Mudick bought 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $37.11 per share, with a total value of $74,220.00. Following the acquisition, the director now owns 31,584 shares in the company, valued at approximately $1,172,082.24. The disclosure for this purchase can be found here. Insiders bought 7,800 shares of company stock worth $308,838 in the last 90 days. Corporate insiders own 4.30% of the company's stock.

Bancorp Stock Up 1.4 %

NASDAQ TBBK traded up $0.43 on Monday, hitting $31.91. 664,902 shares of the stock were exchanged, compared to its average volume of 633,040. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a fifty-two week low of $25.97 and a fifty-two week high of $47.11. The company has a market cap of $1.67 billion, a PE ratio of 9.07 and a beta of 1.45. The company has a 50-day moving average price of $38.01 and a 200-day moving average price of $38.08.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. The company had revenue of $119.15 million during the quarter, compared to analysts' expectations of $118.52 million. Sell-side analysts anticipate that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TBBK shares. Keefe, Bruyette & Woods dropped their price objective on shares of Bancorp from $52.00 to $46.00 and set an "outperform" rating for the company in a report on Friday, April 5th. Raymond James lifted their price objective on shares of Bancorp from $42.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, January 29th. StockNews.com upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, March 6th. Finally, Piper Sandler lifted their price objective on shares of Bancorp from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, December 21st.

Bancorp Profile

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.