National Bank of Canada FI Takes Position in The Bancorp, Inc. (NASDAQ:TBBK)

National Bank of Canada FI purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,435 shares of the bank’s stock, valued at approximately $77,000.

Other institutional investors have also added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new position in Bancorp in the third quarter worth $1,833,000. Stifel Financial Corp bought a new stake in shares of Bancorp during the 3rd quarter worth $729,000. Quadrature Capital Ltd purchased a new position in shares of Bancorp in the 3rd quarter worth about $1,014,000. Point72 DIFC Ltd bought a new position in Bancorp during the third quarter valued at about $54,000. Finally, Paloma Partners Management Co purchased a new stake in Bancorp during the third quarter worth about $487,000. 96.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th.

Insider Transactions at Bancorp

In related news, Director Matthew Cohn acquired 545 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the acquisition, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 73,114 shares in the company, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is currently owned by company insiders.

Bancorp Stock Performance

Shares of TBBK stock opened at $55.49 on Wednesday. The firm’s 50 day moving average is $55.27 and its 200 day moving average is $48.72. The stock has a market capitalization of $2.66 billion, a P/E ratio of 14.01 and a beta of 1.48. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last posted its 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). The company had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter in the prior year, the company earned $0.92 EPS. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current 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.