James Investment Research Inc. Cuts Position in The Bancorp, Inc. $TBBK

James Investment Research Inc. lowered its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 15.6% in the first quarter, Holdings Channel.com reports. The fund owned 67,552 shares of the bank’s stock after selling 12,476 shares during the quarter. James Investment Research Inc.’s holdings in Bancorp were worth $3,630,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TBBK. Ameriprise Financial Inc. increased its holdings in shares of Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after purchasing an additional 455,265 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Bancorp by 148.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock valued at $27,227,000 after purchasing an additional 241,058 shares during the period. Nantahala Capital Management LLC boosted its holdings in Bancorp by 25.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock worth $72,360,000 after buying an additional 219,351 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in Bancorp during the third quarter worth about $13,422,000. Finally, Epoch Investment Partners Inc. boosted its holdings in Bancorp by 306.6% during the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock worth $15,672,000 after buying an additional 157,796 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bancorp

In related news, CMO Maria Wainwright sold 8,400 shares of the 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 sale, the chief marketing officer owned 24,942 shares of the company’s stock, valued at $1,502,506.08. This trade represents a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Erika R. Caesar sold 4,470 shares of Bancorp stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the sale, the executive vice president owned 32,880 shares of the company’s stock, valued at approximately $1,982,006.40. This represents a 11.97% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TBBK shares. Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Zacks Research raised Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Piper Sandler started coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bancorp Stock Up 3.0%

TBBK stock opened at $64.54 on Thursday. The company’s 50 day simple moving average is $57.02 and its 200-day simple moving average is $59.72. The firm has a market capitalization of $2.69 billion, a PE ratio of 12.56 and a beta of 1.19. The Bancorp, Inc. has a 12 month low of $50.20 and a 12 month high of $81.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $132.50 million during the quarter, compared to the consensus estimate of $189.17 million. Equities analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

About Bancorp

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.