Victory Capital Management Inc. Sells 116,684 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Victory Capital Management Inc. decreased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 29.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,606 shares of the bank’s stock after selling 116,684 shares during the quarter. Victory Capital Management Inc. owned approximately 0.56% of Bancorp worth $14,691,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after acquiring an additional 16,482 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Bancorp by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after acquiring an additional 70,178 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Bancorp by 11.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after acquiring an additional 46,115 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Bancorp in the 2nd quarter worth $12,757,000. Finally, Marshall Wace LLP grew its stake in shares of Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after acquiring an additional 96,072 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TBBK shares. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Insider Buying and Selling

In other Bancorp news, EVP Matthew J. Wallace sold 10,160 shares of the 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 transaction, the executive vice president now directly owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Cohn purchased 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,983 shares of company stock worth $1,345,366. Insiders own 5.20% of the company’s stock.

Bancorp Trading Down 1.3 %

Shares of Bancorp stock opened at $54.95 on Wednesday. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $59.46. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 13.88 and a beta of 1.46. 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 company’s 50-day moving average price is $53.22 and its 200-day moving average price is $45.50.

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 analysts’ consensus estimates of $1.12 by ($0.08). The firm had revenue of $125.84 million during 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 period in the previous year, the company posted $0.92 earnings per share. On average, equities analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Bancorp 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.