Charles Schwab Investment Management Inc. Sells 8,975 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Charles Schwab Investment Management Inc. reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 454,619 shares of the bank's stock after selling 8,975 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.93% of Bancorp worth $24,322,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TBBK. GAMMA Investing LLC lifted its holdings in shares of Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock valued at $29,000 after acquiring an additional 291 shares during the period. Blue Trust Inc. increased its holdings in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock worth $74,000 after purchasing an additional 741 shares in the last quarter. US Bancorp DE bought a new position in Bancorp in the third quarter valued at about $83,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Bancorp by 89.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,110 shares of the bank's stock worth $117,000 after buying an additional 1,470 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bancorp Stock Up 1.2 %

TBBK stock traded up $0.68 during midday trading on Friday, hitting $57.56. The company's stock had a trading volume of 264,769 shares, compared to its average volume of 618,908. The company's fifty day moving average price is $54.76 and its 200 day moving average price is $47.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $61.17. The stock has a market capitalization of $2.76 billion, a P/E ratio of 14.58 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 net margin of 30.97% and a return on equity of 26.63%. The company had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period last year, the company posted $0.92 earnings per share. As a group, equities research analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insider Activity

In related news, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the acquisition, the director now owns 56,636 shares of the company's stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the sale, the executive vice president now directly owns 73,114 shares of the company's stock, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is owned by company insiders.

About Bancorp

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.