Victory Capital Management Inc. Has $14.69 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Victory Capital Management Inc. trimmed its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 29.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,606 shares of the bank's stock after selling 116,684 shares during the quarter. Victory Capital Management Inc. owned approximately 0.56% of Bancorp worth $14,691,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock valued at $29,000 after acquiring an additional 291 shares during the period. Blue Trust Inc. lifted its holdings in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after buying an additional 263 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock worth $55,000 after buying an additional 1,272 shares in the last quarter. US Bancorp DE acquired a new position in Bancorp in the 3rd quarter worth $83,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Bancorp in the 2nd quarter worth $216,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the transaction, the chief marketing officer now directly owns 23,291 shares of the company's stock, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 73,114 shares of the company's stock, valued at $3,584,779.42. The trade was a 6.96 % 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 in the last quarter. 5.20% of the stock is currently owned by corporate insiders.

Bancorp Price Performance

Shares of Bancorp stock traded up $0.03 on Wednesday, hitting $54.98. The company had a trading volume of 443,555 shares, compared to its average volume of 627,555. The business has a 50-day simple moving average of $53.38 and a 200-day simple moving average of $45.57. 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 company has a market cap of $2.64 billion, a PE ratio of 13.88 and a beta of 1.46. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.46.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its 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 business had revenue of $125.84 million for 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 period in the prior year, the company earned $0.92 earnings per share. Research analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TBBK has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, Piper Sandler upped their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th.

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.