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

Verition Fund Management LLC bought a new position in The Bancorp, Inc. (NASDAQ:TBBK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,148 shares of the bank’s stock, valued at approximately $1,024,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in shares of Bancorp during the 3rd quarter worth $514,000. Victory Capital Management Inc. lifted its position in Bancorp by 7.0% during the 2nd 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 bought a new stake in Bancorp during the second quarter valued at about $391,000. Raymond James & Associates grew its position in shares of Bancorp by 55.9% in the third 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 during the last quarter. Finally, Entropy Technologies LP grew its holdings in Bancorp by 175.4% in the 3rd quarter. Entropy Technologies LP now owns 18,997 shares of the bank’s stock valued at $1,016,000 after buying an additional 12,100 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Stock Performance

TBBK opened at $57.56 on Monday. The stock’s 50 day simple moving average is $54.86 and its 200-day simple moving average is $47.73. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.76 billion, a PE 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.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (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 business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same period last year, the firm earned $0.92 EPS. Sell-side analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value 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. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the company’s 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 directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 in the last 90 days. 5.20% of the stock is owned by corporate 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.