JPMorgan Chase & Co. grew its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 132.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,784 shares of the bank's stock after acquiring an additional 219,020 shares during the period. JPMorgan Chase & Co. owned about 0.80% of Bancorp worth $20,532,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of 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 buying an additional 234 shares during the last quarter. Blue Trust Inc. increased its holdings 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 purchasing an additional 263 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Bancorp by 42.4% in the third 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. Los Angeles Capital Management LLC lifted its stake in shares of Bancorp by 1.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank's stock worth $1,157,000 after buying an additional 492 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Bancorp by 2.3% during the 3rd quarter. Natixis Advisors LLC now owns 30,551 shares of the bank's stock worth $1,634,000 after buying an additional 673 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.
Bancorp Price Performance
Shares of TBBK stock traded down $0.65 on Thursday, hitting $51.91. 307,083 shares of the company's stock were exchanged, compared to its average volume of 337,257. The company has a 50 day moving average of $54.91 and a 200 day moving average of $50.99. The stock has a market cap of $2.49 billion, a P/E ratio of 13.11 and a beta of 1.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17.
Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly 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). The company 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 quarter in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.
Insider Transactions at Bancorp
In related news, Director Matthew Cohn acquired 545 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the company's 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 owns 73,114 shares in the company, 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. Over the last three months, insiders have sold 26,983 shares of company stock worth $1,345,366. Insiders own 5.20% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Piper Sandler upped their price objective on Bancorp from $61.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. StockNews.com raised shares of Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, January 4th.
Read Our Latest Report on TBBK
About Bancorp
(
Free Report)
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.
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