Brown Advisory Inc. Acquires 71,299 Shares of The Bancorp, Inc. $TBBK

Brown Advisory Inc. increased its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 8.5% during the 4th quarter, Holdings Channel reports. The firm owned 905,876 shares of the bank’s stock after buying an additional 71,299 shares during the period. Brown Advisory Inc.’s holdings in Bancorp were worth $61,165,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of Bancorp by 4.8% in the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock worth $208,327,000 after purchasing an additional 126,302 shares during the last quarter. Nantahala Capital Management LLC grew its stake in shares of Bancorp by 25.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock worth $72,360,000 after purchasing an additional 219,351 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Bancorp by 273.2% in the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after purchasing an additional 455,265 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Bancorp by 43.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank’s stock worth $34,279,000 after purchasing an additional 154,539 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew 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 worth $27,227,000 after purchasing an additional 241,058 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

Insider Activity at Bancorp

In other news, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the transaction, the chief marketing officer directly owned 24,942 shares in the company, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Erika R. Caesar sold 4,470 shares of Bancorp stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares of the company’s stock, valued at $1,982,006.40. The trade was a 11.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TBBK shares. Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Piper Sandler assumed coverage on Bancorp in a research report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective on the stock. Zacks Research raised Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bancorp has an average rating of “Moderate Buy” and an average price target of $59.50.

Bancorp Stock Performance

Bancorp stock opened at $57.46 on Monday. The stock’s 50 day simple moving average is $56.84 and its two-hundred day simple moving average is $60.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 11.18 and a beta of 1.21. The Bancorp, Inc. has a fifty-two week low of $49.36 and a fifty-two week high of $81.65.

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

Bancorp Company 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.