State Street Corp Lowers Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

State Street Corp reduced its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,063,515 shares of the bank's stock after selling 295,483 shares during the quarter. State Street Corp owned 6.39% of Bancorp worth $163,898,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Bancorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank's stock valued at $1,056,000 after purchasing an additional 234 shares during the period. Blue Trust Inc. boosted its stake 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 buying an additional 263 shares in the last quarter. GAMMA Investing LLC grew its holdings in Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock worth $59,000 after acquiring an additional 327 shares during the period. Legend Financial Advisors Inc. raised its position in Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank's stock worth $687,000 after acquiring an additional 380 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in Bancorp by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank's stock valued at $815,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Price Performance

Shares of TBBK traded up $0.26 on Friday, reaching $56.08. The stock had a trading volume of 365,184 shares, compared to its average volume of 613,632. The firm has a 50-day moving average of $55.21 and a 200 day moving average of $48.32. The firm has a market capitalization of $2.69 billion, a PE ratio of 14.16 and a beta of 1.48. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $61.17. 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 posted its 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). The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same period last year, the company posted $0.92 EPS. Sell-side analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday.

Insider Buying and Selling at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Cohn purchased 545 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were purchased at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is owned by corporate insiders.

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.