Loomis Sayles & Co. L P Decreases Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Loomis Sayles & Co. L P lowered its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,366 shares of the bank's stock after selling 12,770 shares during the quarter. Loomis Sayles & Co. L P owned approximately 1.12% of Bancorp worth $28,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TBBK. Nantahala Capital Management LLC purchased a new stake in shares of Bancorp in the 2nd quarter valued at $12,757,000. Lisanti Capital Growth LLC bought a new stake in shares of Bancorp in the 3rd quarter valued at about $6,100,000. Marshall Wace LLP lifted its stake in shares of Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank's stock valued at $12,747,000 after acquiring an additional 96,072 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank's stock worth $12,739,000 after purchasing an additional 70,768 shares during the period. Finally, Jane Street Group LLC lifted its position in Bancorp by 129.0% in the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank's stock valued at $4,180,000 after purchasing an additional 70,361 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the company'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 transaction, the executive vice president now directly owns 73,114 shares of the company's stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of $50.11 per share, with a total value of $27,309.95. Following the acquisition, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 in the last 90 days. Insiders own 5.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TBBK. Piper Sandler lifted their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

Bancorp Trading Down 2.5 %

Shares of TBBK traded down $1.53 during trading hours on Tuesday, reaching $58.83. 610,506 shares of the company traded hands, compared to its average volume of 627,535. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 14.84 and a beta of 1.46. The company's fifty day moving average price is $53.88 and its two-hundred day moving average price is $46.19. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

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

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.