Entropy Technologies LP Purchases 12,100 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Entropy Technologies LP raised its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 175.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,997 shares of the bank's stock after purchasing an additional 12,100 shares during the quarter. Entropy Technologies LP's holdings in Bancorp were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock valued at $29,000 after buying an additional 291 shares in the last quarter. Blue Trust Inc. grew its holdings in Bancorp by 72.3% in 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. EverSource Wealth Advisors LLC raised its position in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock worth $55,000 after buying an additional 1,272 shares during the period. US Bancorp DE acquired a new position in shares of Bancorp in the 3rd quarter valued at about $83,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Bancorp in the second quarter worth $216,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TBBK shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Piper Sandler raised their price target on shares of Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th.

Insider Activity

In other news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 in the company, valued at approximately $1,166,413.28. This trade represents a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company's stock, valued at $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 in the last ninety days. 5.20% of the stock is owned by insiders.

Bancorp Stock Performance

Shares of Bancorp stock traded down $2.58 during midday trading on Thursday, hitting $54.24. The company had a trading volume of 815,143 shares, compared to its average volume of 630,738. 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 stock has a market cap of $2.60 billion, a PE ratio of 13.70 and a beta of 1.46. The business's 50 day simple moving average is $52.82 and its two-hundred day simple moving average is $44.80. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $59.46.

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