Lisanti Capital Growth LLC Makes New $6.10 Million Investment in The Bancorp, Inc. (NASDAQ:TBBK)

Lisanti Capital Growth LLC purchased a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 114,025 shares of the bank's stock, valued at approximately $6,100,000. Bancorp makes up 1.5% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 13th biggest holding. Lisanti Capital Growth LLC owned about 0.23% of Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Bancorp by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank's stock valued at $121,225,000 after buying an additional 16,482 shares during the period. American Century Companies Inc. raised its position in shares of Bancorp by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank's stock valued at $60,545,000 after buying an additional 70,178 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Bancorp by 11.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank's stock worth $16,717,000 after acquiring an additional 46,115 shares during the last quarter. Victory Capital Management Inc. increased its stake 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 last quarter. Finally, Nantahala Capital Management LLC purchased a new stake in Bancorp during the second quarter valued at about $12,757,000. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, Piper Sandler raised their price target on Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th.

Bancorp Trading Up 8.5 %

Shares of Bancorp stock traded up $4.63 during midday trading on Monday, reaching $59.22. 353,525 shares of the company's stock traded hands, compared to its average volume of 628,972. The stock has a 50 day moving average of $52.36 and a 200-day moving average of $44.28. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $59.26. The company has a market cap of $2.90 billion, a PE ratio of 13.79 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly 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 net margin of 39.22% and a return on equity of 26.63%. The company had revenue of $125.84 million for the quarter, compared to analysts' expectations of $131.34 million. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, equities analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity at Bancorp

In other news, CMO Maria Wainwright sold 11,357 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares of the company's stock, valued at $1,166,413.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction 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 completion of the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction 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. This represents a 0.00 % 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 three months. Company insiders own 5.20% of the company's stock.

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.