Owls Nest Partners IA LLC Lowers Holdings in The Bancorp, Inc. $TBBK

Owls Nest Partners IA LLC trimmed its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 973,790 shares of the bank’s stock after selling 246,947 shares during the period. Bancorp comprises about 18.2% of Owls Nest Partners IA LLC’s investment portfolio, making the stock its largest position. Owls Nest Partners IA LLC’s holdings in Bancorp were worth $65,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Rothschild Investment LLC grew its holdings in shares of Bancorp by 213.6% during the third quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after purchasing an additional 235 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Bancorp by 78.6% during the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Bancorp during the fourth quarter worth $27,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bancorp by 732.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after purchasing an additional 659 shares during the last quarter. Finally, IFP Advisors Inc bought a new stake in shares of Bancorp during the third quarter worth $66,000. Institutional investors own 96.22% of the company’s stock.

Insider Buying and Selling at Bancorp

In other news, CMO Maria Wainwright sold 8,400 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the transaction, the chief marketing officer owned 24,942 shares of the company’s stock, valued at $1,502,506.08. This represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Erika R. Caesar sold 4,470 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president directly owned 32,880 shares in the company, valued at $1,982,006.40. This trade represents a 11.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.00% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK opened at $57.46 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 12-month low of $49.36 and a 12-month high of $81.65. The firm has a market capitalization of $2.39 billion, a PE ratio of 11.18 and a beta of 1.21. The stock’s fifty day simple moving average is $56.84 and its 200-day simple moving average is $60.33.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The business had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. As a group, research analysts predict that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Wall Street Analyst Weigh In

TBBK has been the topic of several research analyst reports. Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Piper Sandler initiated coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 target price on the stock. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Bancorp Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.