Sanctuary Advisors LLC Purchases New Position in The Bancorp, Inc. (NASDAQ:TBBK)

Sanctuary Advisors LLC purchased a new position in The Bancorp, Inc. (NASDAQ:TBBK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,222 shares of the bank’s stock, valued at approximately $300,000.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Bancorp by 72.3% during the third 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 shares of Bancorp during the 3rd quarter worth about $54,000. GAMMA Investing LLC lifted its stake in Bancorp by 42.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after buying an additional 327 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in Bancorp during the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Insiders Place Their Bets

In other Bancorp news, Director Matthew Cohn acquired 545 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, with a total value 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 trade represents a 0.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last ninety days. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several research reports. Piper Sandler raised their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a report on Friday.

Bancorp Price Performance

TBBK stock opened at $53.58 on Friday. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $2.57 billion, a PE ratio of 13.53 and a beta of 1.48. The business has a 50 day simple moving average of $54.85 and a 200-day simple moving average of $49.81.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The company had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same period last year, the business earned $0.92 earnings per share. Equities research analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

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.