Mesirow Financial Investment Management Inc. Trims Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Mesirow Financial Investment Management Inc. reduced its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 17.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,694 shares of the bank’s stock after selling 1,021 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Bancorp were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in Bancorp by 9.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,637 shares of the bank’s stock valued at $356,000 after buying an additional 941 shares during the period. Texas Permanent School Fund Corp raised its position in Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 46,959 shares of the bank’s stock worth $1,571,000 after acquiring an additional 608 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Bancorp by 15.1% during the 1st quarter. SG Americas Securities LLC now owns 6,689 shares of the bank’s stock worth $224,000 after purchasing an additional 877 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Bancorp by 7.1% in the first quarter. Illinois Municipal Retirement Fund now owns 34,233 shares of the bank’s stock valued at $1,145,000 after purchasing an additional 2,283 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Bancorp by 6.2% during the first quarter. ProShare Advisors LLC now owns 10,417 shares of the bank’s stock worth $349,000 after buying an additional 606 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Trading Down 1.6 %

Shares of TBBK opened at $57.40 on Wednesday. The stock’s fifty day simple moving average is $52.59 and its 200 day simple moving average is $44.65. The firm has a market capitalization of $2.81 billion, a P/E ratio of 14.49 and a beta of 1.46. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.46. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 39.22%. The company had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, equities research analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, CMO Maria Wainwright sold 11,357 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the sale, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 0.00 % 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. In related news, Director Matthew Cohn purchased 545 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 in the last quarter. 5.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on TBBK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Piper Sandler upped their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th.

Bancorp Company 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.