Verition Fund Management LLC Purchases New Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Verition Fund Management LLC acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 19,148 shares of the bank's stock, valued at approximately $1,024,000.

Several other institutional investors have also added to or reduced their stakes in TBBK. Penserra Capital Management LLC acquired a new stake in shares of Bancorp in the 3rd quarter valued at about $514,000. Victory Capital Management Inc. raised its position in Bancorp by 7.0% in the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank's stock valued at $14,775,000 after buying an additional 25,731 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Bancorp in the 2nd quarter valued at approximately $391,000. Raymond James & Associates lifted its stake in Bancorp by 55.9% in the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock valued at $2,690,000 after acquiring an additional 18,027 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in shares of Bancorp by 175.4% during the 3rd quarter. Entropy Technologies LP now owns 18,997 shares of the bank's stock worth $1,016,000 after acquiring an additional 12,100 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Bancorp

In other news, Director Matthew Cohn bought 545 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were bought 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 owns 56,636 shares of the company's stock, valued at $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction on Tuesday, October 29th. The stock was 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 $1,166,413.28. The trade was a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 over the last quarter. 5.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd.

Bancorp Stock Down 3.0 %

TBBK traded down $1.75 on Monday, hitting $55.81. 305,393 shares of the company were exchanged, compared to its average volume of 617,867. The stock's fifty day moving average is $54.90 and its 200-day moving average is $47.90. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market cap of $2.67 billion, a PE ratio of 14.09 and a beta of 1.48.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data 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 return on equity of 26.63% and a net margin of 30.97%. The company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same quarter in the prior year, the company earned $0.92 EPS. Equities research analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

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.