Stifel Financial Corp Takes $729,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Stifel Financial Corp purchased a new position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,620 shares of the bank's stock, valued at approximately $729,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank's stock valued at $34,000 after purchasing an additional 263 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Bancorp during the 3rd quarter worth $54,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 327 shares during the period. Advisors Asset Management Inc. increased its position in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock worth $74,000 after acquiring an additional 741 shares in the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Bancorp in the 3rd quarter valued at approximately $83,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Analysts Set New Price Targets

TBBK has been the subject of a number of research reports. Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday. StockNews.com lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, December 19th.

Insider Transactions at Bancorp

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

Bancorp Stock Up 1.0 %

NASDAQ TBBK traded up $0.52 during trading on Thursday, hitting $54.52. 178,800 shares of the company traded hands, compared to its average volume of 610,598. The business has a fifty day simple moving average of $55.03 and a 200 day simple moving average of $49.63. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a market capitalization of $2.61 billion, a P/E ratio of 13.77 and a beta of 1.48.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results 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 return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period in the prior year, the firm earned $0.92 EPS. As a group, sell-side analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.

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.