Weiss Asset Management LP Purchases New Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Weiss Asset Management LP bought a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,254 shares of the bank's stock, valued at approximately $1,833,000. Weiss Asset Management LP owned 0.07% of Bancorp at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TBBK. Penserra Capital Management LLC acquired a new stake in shares of Bancorp during the 3rd quarter worth $514,000. Victory Capital Management Inc. increased its stake in Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank's stock worth $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Bancorp in the 2nd quarter worth about $391,000. Raymond James & Associates lifted its stake in shares of 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 purchasing an additional 18,027 shares in the last quarter. Finally, Entropy Technologies LP grew its holdings 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 purchasing an additional 12,100 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Bancorp Stock Up 1.2 %

NASDAQ:TBBK traded up $0.68 during mid-day trading on Friday, hitting $57.56. The company had a trading volume of 264,775 shares, compared to its average volume of 514,129. The business has a fifty day simple moving average of $54.86 and a 200-day simple moving average of $47.63. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 14.54 and a beta of 1.48. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced 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). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The company had revenue of $125.84 million for the quarter, compared to analysts' expectations of $131.34 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. Equities analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp 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 directly owns 73,114 shares in the company, valued at $3,584,779.42. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Cohn bought 545 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was acquired 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 owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is currently owned by company insiders.

About Bancorp

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.