Entropy Technologies LP Raises Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Entropy Technologies LP increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 175.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,997 shares of the bank's stock after purchasing an additional 12,100 shares during the quarter. Entropy Technologies LP's holdings in Bancorp were worth $1,016,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank's stock valued at $4,180,000 after buying an additional 70,361 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in Bancorp by 71.1% in the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank's stock valued at $13,270,000 after purchasing an additional 164,855 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank's stock valued at $14,775,000 after purchasing an additional 25,731 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Bancorp in the second quarter valued at $391,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Bancorp in the first quarter valued at about $444,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Wall Street Analysts Forecast Growth

TBBK has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, StockNews.com cut Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, July 30th.

Bancorp Stock Performance

Shares of NASDAQ:TBBK traded down $2.58 during mid-day trading on Thursday, reaching $54.24. 815,143 shares of the company traded hands, compared to its average volume of 630,738. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.46. 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 firm has a market cap of $2.60 billion, a PE ratio of 13.70 and a beta of 1.46. The company's 50 day moving average price is $52.82 and its 200-day moving average price is $44.80.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS 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 business had revenue of $125.84 million during the quarter, compared to analysts' expectations of $131.34 million. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In other Bancorp news, EVP Matthew J. Wallace sold 10,160 shares of the company's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the transaction, the executive vice president now directly owns 74,798 shares in the company, valued at approximately $3,744,387.88. This represents a 11.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn purchased 545 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last quarter. Insiders own 5.20% of the company's stock.

Bancorp 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.