Thrivent Financial for Lutherans Sells 24,959 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Thrivent Financial for Lutherans decreased its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 39.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,447 shares of the bank's stock after selling 24,959 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Bancorp worth $2,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TBBK. The Manufacturers Life Insurance Company raised its holdings 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 purchasing an additional 234 shares during the last quarter. Blue Trust Inc. increased its stake in 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 buying an additional 263 shares during the last quarter. GAMMA Investing LLC lifted its position in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock worth $29,000 after buying an additional 291 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Bancorp by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank's stock worth $2,251,000 after buying an additional 302 shares during the last quarter. Finally, Legend Financial Advisors Inc. grew its holdings in shares of Bancorp by 2.1% in the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank's stock valued at $687,000 after acquiring an additional 380 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Performance

NASDAQ TBBK traded down $0.62 on Friday, hitting $58.43. 200,215 shares of the stock were exchanged, compared to its average volume of 624,617. The company has a market capitalization of $2.80 billion, a PE ratio of 14.91 and a beta of 1.46. 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 business's fifty day moving average is $54.23 and its 200 day moving average is $46.55. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The firm had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same period in the previous year, the company posted $0.92 earnings per share. Research analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity

In related 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 owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm'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 sale, the executive vice president now owns 73,114 shares of the company's stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 over the last three months. Insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

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

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.