Lord Abbett & CO. LLC Has $16.22 Million Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Lord Abbett & CO. LLC increased its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 23.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 303,239 shares of the bank's stock after acquiring an additional 56,959 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.63% of Bancorp worth $16,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 263 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Bancorp in the third quarter worth about $54,000. GAMMA Investing LLC boosted its holdings in shares of Bancorp by 42.4% in the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock worth $59,000 after buying 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, National Bank of Canada FI acquired a new stake in shares of Bancorp during the third quarter valued at approximately $77,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Up 1.4 %

NASDAQ TBBK traded up $0.77 during trading on Monday, reaching $56.85. 325,768 shares of the company's stock were exchanged, compared to its average volume of 612,442. 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 fifty-two week low of $29.92 and a fifty-two week high of $61.17. The company's fifty day simple moving average is $55.27 and its 200-day simple moving average is $48.72. The firm has a market capitalization of $2.72 billion, a PE ratio of 14.36 and a beta of 1.48.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). The company had revenue of $125.84 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.92 earnings per share. Sell-side analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insider Activity

In other Bancorp news, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The stock was 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 of the company's stock, valued at $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction 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 $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. 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. Corporate insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, December 11th.

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.