Public Sector Pension Investment Board Sells 10,000 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Public Sector Pension Investment Board reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 103,864 shares of the bank's stock after selling 10,000 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Bancorp worth $5,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nantahala Capital Management LLC acquired a new stake in Bancorp in the 2nd quarter valued at $12,757,000. Lisanti Capital Growth LLC acquired a new position in shares of Bancorp during the third quarter valued at about $6,100,000. Marshall Wace LLP increased its position in shares of Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank's stock worth $12,747,000 after acquiring an additional 96,072 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank's stock valued at $12,739,000 after acquiring an additional 70,768 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Bancorp by 129.0% during the 1st 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 owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Matthew Cohn purchased 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 directly owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the transaction, the executive vice president now owns 73,114 shares of the company's stock, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 in the last quarter. Corporate insiders own 5.20% of the company's stock.

Bancorp Stock Performance

NASDAQ TBBK traded down $1.10 on Monday, hitting $57.33. 445,697 shares of the stock traded hands, compared to its average volume of 623,846. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The business's fifty day moving average is $54.34 and its two-hundred day moving average is $46.90. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 14.51 and a beta of 1.46.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data 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 business 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 firm posted $0.92 earnings per share. As a group, equities analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, November 25th.

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.