Barclays PLC Boosts Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Barclays PLC grew its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 34.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,844 shares of the bank's stock after purchasing an additional 35,777 shares during the period. Barclays PLC owned approximately 0.29% of Bancorp worth $7,536,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Raymond James & Associates purchased a new position in shares of Bancorp during the second quarter worth $1,218,000. Bailard Inc. raised its stake in shares of Bancorp by 3.0% during the 2nd quarter. Bailard Inc. now owns 23,682 shares of the bank's stock valued at $894,000 after buying an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bancorp by 65.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,646 shares of the bank's stock valued at $666,000 after buying an additional 7,009 shares during the period. Legend Financial Advisors Inc. lifted its holdings in shares of Bancorp by 2.1% in the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank's stock valued at $687,000 after buying an additional 380 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Bancorp by 6.0% in the second quarter. Whittier Trust Co. now owns 261,798 shares of the bank's stock worth $9,883,000 after buying an additional 14,884 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

NASDAQ TBBK traded down $0.35 during mid-day trading on Thursday, reaching $51.96. 651,136 shares of the stock were exchanged, compared to its average volume of 612,534. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The business's 50 day moving average is $55.29 and its 200-day moving average is $48.90. The company has a market capitalization of $2.49 billion, a P/E ratio of 13.12 and a beta of 1.48.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (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 firm had revenue of $125.84 million for the quarter, compared to analysts' expectations of $131.34 million. During the same period in the previous year, the company earned $0.92 earnings per share. On average, equities research analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday.

Insider Buying and Selling at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares in the company, valued at $3,584,779.42. This represents a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Cohn purchased 545 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,983 shares of company stock valued at $1,345,366. Company insiders own 5.20% of the company's stock.

Bancorp Company 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.