Franklin Resources Inc. Raises Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Franklin Resources Inc. grew its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 18.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 925,370 shares of the bank's stock after purchasing an additional 144,867 shares during the period. Franklin Resources Inc. owned about 1.93% of Bancorp worth $52,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Penserra Capital Management LLC bought a new position in Bancorp during the third quarter valued at approximately $514,000. Victory Capital Management Inc. lifted its holdings in Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank's stock valued at $14,775,000 after acquiring an additional 25,731 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Bancorp during the 2nd quarter valued at about $391,000. Raymond James & Associates grew its position in Bancorp by 55.9% during the third quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock valued at $2,690,000 after buying an additional 18,027 shares during the period. Finally, Entropy Technologies LP raised its position in Bancorp by 175.4% in the third quarter. Entropy Technologies LP now owns 18,997 shares of the bank's stock worth $1,016,000 after acquiring an additional 12,100 shares during the period. Institutional investors own 96.22% of the company's stock.

Bancorp Price Performance

Shares of TBBK stock traded down $3.08 on Wednesday, hitting $52.41. 387,959 shares of the stock traded hands, compared to its average volume of 610,827. 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 52 week low of $29.92 and a 52 week high of $61.17. The firm has a 50 day simple moving average of $55.31 and a two-hundred day simple moving average of $48.88. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 13.23 and a beta of 1.48.

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, December 11th.

Insider Activity

In other news, CMO Maria Wainwright sold 11,357 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew J. Wallace sold 10,160 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the sale, the executive vice president now directly owns 74,798 shares of the company's stock, valued at approximately $3,744,387.88. This trade represents a 11.96 % 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 worth $1,345,366 over the last 90 days. Corporate 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.