Paloma Partners Management Co Purchases Shares of 9,100 The Bancorp, Inc. (NASDAQ:TBBK)

Paloma Partners Management Co purchased a new position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,100 shares of the bank's stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bancorp during the 3rd quarter worth about $508,000. Verition Fund Management LLC bought a new position in shares of Bancorp during the 3rd quarter worth about $1,024,000. Cynosure Group LLC bought a new position in shares of Bancorp during the 3rd quarter worth about $367,000. BNP Paribas Financial Markets lifted its holdings in shares of Bancorp by 169.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,165 shares of the bank's stock worth $2,844,000 after acquiring an additional 33,413 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of Bancorp by 259.8% during the 3rd quarter. Quantbot Technologies LP now owns 15,660 shares of the bank's stock worth $838,000 after acquiring an additional 11,308 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday.

Bancorp Trading Down 1.6 %

Shares of NASDAQ:TBBK traded down $0.91 during trading on Thursday, hitting $56.88. 249,149 shares of the company's stock were exchanged, compared to its average volume of 620,700. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $61.17. The firm has a 50-day moving average price of $54.66 and a two-hundred day moving average price of $47.30. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.73 billion, a P/E ratio of 14.59 and a beta of 1.48.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the prior year, the firm earned $0.92 EPS. Equities analysts predict that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Transactions at Bancorp

In other news, Director Matthew Cohn acquired 545 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the acquisition, the director now owns 56,636 shares in the company, valued at $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company's stock, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 in the last quarter. 5.20% of the stock is owned by company insiders.

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.