Citigroup Inc. Has $6.79 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Citigroup Inc. trimmed its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 23.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,952 shares of the bank's stock after selling 38,965 shares during the period. Citigroup Inc. owned about 0.26% of Bancorp worth $6,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Bancorp by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank's stock worth $1,056,000 after purchasing an additional 234 shares during the period. Blue Trust Inc. grew its stake in shares of 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 buying an additional 263 shares during the period. GAMMA Investing LLC increased its holdings in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock worth $29,000 after buying an additional 291 shares during the last quarter. Legend Financial Advisors Inc. raised its position 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 worth $687,000 after buying an additional 380 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in Bancorp by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank's stock valued at $815,000 after acquiring an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, November 25th.

Insider Buying and Selling

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the business's 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 completion of the sale, the executive vice president now directly owns 73,114 shares in the company, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew J. Wallace sold 10,160 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the transaction, the executive vice president now directly owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 in the last three months. 5.20% of the stock is currently owned by insiders.

Bancorp Stock Down 1.0 %

Bancorp stock traded down $0.62 during midday trading on Friday, hitting $58.43. 200,215 shares of the stock were exchanged, compared to its average volume of 601,338. 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 company has a 50 day moving average price of $54.34 and a two-hundred day moving average price of $46.80. The firm has a market cap of $2.80 billion, a P/E ratio of 14.76 and a beta of 1.46. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17.

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

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.