Point72 Asia Singapore Pte. Ltd. Takes $508,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Point72 Asia Singapore Pte. Ltd. acquired a new position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,498 shares of the bank's stock, valued at approximately $508,000.

A number of other institutional investors have also recently made changes to their positions in TBBK. Blue Trust Inc. boosted its position in shares of Bancorp by 72.3% in the third quarter. Blue Trust Inc. now owns 627 shares of the bank's stock valued at $34,000 after acquiring an additional 263 shares during the period. GAMMA Investing LLC increased its position 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 purchasing an additional 291 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock valued at $74,000 after purchasing an additional 741 shares in the last quarter. US Bancorp DE bought a new stake in Bancorp during the third quarter valued at approximately $83,000. Finally, EverSource Wealth Advisors LLC grew its stake in Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock worth $55,000 after buying an additional 1,272 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company's stock.

Insider Transactions at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 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 link. Also, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the sale, the executive vice president now owns 74,798 shares of the company's stock, valued at $3,744,387.88. The trade was a 11.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock worth $1,345,366 in the last ninety days. Insiders own 5.20% of the company's stock.

Bancorp Stock Down 1.0 %

Shares of TBBK traded down $0.58 during mid-day trading on Tuesday, reaching $56.75. The company had a trading volume of 374,701 shares, compared to its average volume of 622,776. The firm has a 50-day moving average price of $54.53 and a 200 day moving average price of $47.23. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 14.33 and a beta of 1.48. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17. 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 released its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). The business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, sell-side analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday.

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.