LMR Partners LLP Makes New $943,000 Investment in The Bancorp, Inc. (NASDAQ:TBBK)

LMR Partners LLP acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,619 shares of the bank's stock, valued at approximately $943,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares in the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 291 shares during the last quarter. US Bancorp DE purchased a new position in Bancorp in the 3rd quarter worth $83,000. EverSource Wealth Advisors LLC increased its position in shares of Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock valued at $55,000 after acquiring an additional 1,272 shares during the period. Finally, Summit Asset Management LLC purchased a new position in shares of Bancorp in the third quarter valued at about $281,000. Institutional investors own 96.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler upped their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 29th. StockNews.com raised shares of Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Stock Performance

Shares of TBBK traded up $0.03 during mid-day trading on Wednesday, reaching $54.98. 443,555 shares of the company's stock were exchanged, compared to its average volume of 627,555. 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 capitalization of $2.64 billion, a PE ratio of 13.88 and a beta of 1.46. The business's fifty day simple moving average is $53.38 and its 200-day simple moving average is $45.57. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $59.46.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced 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). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The firm had revenue of $125.84 million during the quarter, compared to analysts' expectations of $131.34 million. During the same quarter in the prior year, the business earned $0.92 EPS. On average, equities research analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Activity

In other Bancorp 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 transaction of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares of the company's stock, valued at approximately $1,166,413.28. This represents a 32.78 % 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 link. Also, Director Matthew Cohn bought 545 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the purchase, the director now owns 56,636 shares of the company's stock, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is currently owned by insiders.

Bancorp 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.