Whittier Trust Co. of Nevada Inc. Trims Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Whittier Trust Co. of Nevada Inc. cut its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 53.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,524 shares of the bank’s stock after selling 75,409 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.13% of Bancorp worth $3,452,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TBBK. Nantahala Capital Management LLC bought a new stake in shares of Bancorp in the 2nd quarter valued at about $12,757,000. Jupiter Asset Management Ltd. lifted its stake in shares of Bancorp by 71.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after purchasing an additional 164,855 shares during the last quarter. Marshall Wace LLP boosted its position in Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after purchasing an additional 96,072 shares in the last quarter. Jane Street Group LLC grew its stake in Bancorp by 129.0% in the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after purchasing an additional 70,178 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TBBK shares. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, 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.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $56.12 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $51.67 and its 200 day moving average is $42.41. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.26. The company has a market cap of $2.75 billion, a PE ratio of 14.61 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The company had revenue of $124.52 million during the quarter, compared to analysts’ expectations of $127.45 million. On average, sell-side analysts forecast that The Bancorp, Inc. will post 4.37 EPS for the current year.

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.