Stifel Financial Corp Purchases New Position in The Bancorp, Inc. (NASDAQ:TBBK)

Stifel Financial Corp acquired a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 13,620 shares of the bank’s stock, valued at approximately $729,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Bancorp during the 3rd quarter worth about $54,000. GAMMA Investing LLC grew its holdings in Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after acquiring an additional 327 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after acquiring an additional 741 shares during the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Bancorp in the third quarter valued at approximately $83,000. 96.22% of the stock is owned by institutional investors.

Bancorp Stock Performance

TBBK stock opened at $54.00 on Thursday. The business’s fifty day moving average is $55.12 and its 200-day moving average is $49.60. The company has a market cap of $2.59 billion, a P/E ratio of 13.64 and a beta of 1.48. 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 twelve month low of $29.92 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The firm had revenue of $125.84 million during 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 quarter in the prior year, the business earned $0.92 earnings per share. Equities research analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insiders Place Their Bets

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Cohn acquired 545 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 56,636 shares of the company’s stock, 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 ninety days, insiders have sold 26,983 shares of company stock worth $1,345,366. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 19th.

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.