Essex Investment Management Co. LLC Sells 30,383 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Essex Investment Management Co. LLC reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 37.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,783 shares of the bank's stock after selling 30,383 shares during the quarter. Essex Investment Management Co. LLC owned about 0.10% of Bancorp worth $2,663,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Bancorp by 60.5% in the second 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. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 1,272 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in shares of Bancorp during the second quarter worth $216,000. Arcus Capital Partners LLC acquired a new stake in shares of Bancorp during the first quarter valued at about $221,000. Finally, SG Americas Securities LLC increased its holdings in Bancorp by 15.1% during the 1st quarter. SG Americas Securities LLC now owns 6,689 shares of the bank's stock worth $224,000 after purchasing an additional 877 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

TBBK traded up $2.34 on Friday, hitting $55.13. The company had a trading volume of 598,807 shares, compared to its average volume of 594,591. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $55.67. The company's fifty day moving average price is $50.39 and its 200 day moving average price is $41.36. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 14.36 and a beta of 1.45.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). Bancorp had a net margin of 31.52% and a return on equity of 26.81%. The company had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Equities analysts predict that The Bancorp, Inc. will post 4.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TBBK. StockNews.com cut shares of Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th. 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 report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

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.