The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 23.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 126,952 shares of the bank’s stock after selling 38,965 shares during the quarter. Citigroup Inc.’s holdings in Bancorp were worth $6,792,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TBBK. Blue Trust Inc. boosted its stake in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bancorp by 60.5% during the 2nd 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 last quarter. Advisors Asset Management Inc. boosted its position in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after acquiring an additional 741 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Bancorp in the third quarter valued at about $83,000. Finally, EverSource Wealth Advisors LLC increased its position in Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after purchasing an additional 1,272 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

Shares of Bancorp stock opened at $58.43 on Friday. The firm has a market cap of $2.80 billion, a PE ratio of 14.76 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17. The business’s fifty day simple moving average is $54.34 and its 200-day simple moving average is $46.72.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 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 company had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same period in the previous year, the company earned $0.92 EPS. Equities analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Buying and Selling

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the business’s 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 sale, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the transaction, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. The trade was a 11.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,983 shares of company stock valued at $1,345,366. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 25th.

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.