The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 53.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 64,524 shares of the bank's stock after selling 75,409 shares during the period. Whittier Trust Co. of Nevada Inc. owned approximately 0.13% of Bancorp worth $3,452,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James & Associates grew its stake in shares of Bancorp by 55.9% in the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock valued at $2,690,000 after purchasing an additional 18,027 shares during the last quarter. 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 valued at $34,000 after buying an additional 263 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Bancorp by 24.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,800 shares of the bank's stock valued at $1,593,000 after buying an additional 5,800 shares during the last quarter. GAMMA Investing LLC increased its stake in Bancorp by 42.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock valued at $59,000 after buying an additional 327 shares during the period. Finally, Nantahala Capital Management LLC purchased a new position in Bancorp during the 2nd quarter worth $12,757,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TBBK has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. StockNews.com cut Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 30th. Finally, Piper Sandler raised their price target on Bancorp from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 29th.

Bancorp Price Performance

Shares of NASDAQ TBBK traded down $0.24 during midday trading on Tuesday, hitting $55.88. The company had a trading volume of 325,672 shares, compared to its average volume of 615,972. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.55 and a beta of 1.45. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.26. The business has a 50-day simple moving average of $51.87 and a two-hundred day simple moving average of $42.58. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19.

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

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.