Penn Capital Management Company LLC Acquires 11,803 Shares of The Bancorp, Inc. $TBBK

Penn Capital Management Company LLC boosted its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 6.6% in the fourth quarter, Holdings Channel reports. The firm owned 190,838 shares of the bank’s stock after purchasing an additional 11,803 shares during the quarter. Penn Capital Management Company LLC’s holdings in Bancorp were worth $12,900,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. grew its position in Bancorp by 4.8% in the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock valued at $208,327,000 after purchasing an additional 126,302 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in Bancorp by 16.9% in the second quarter. Nantahala Capital Management LLC now owns 968,503 shares of the bank’s stock valued at $55,176,000 after acquiring an additional 140,000 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Bancorp by 273.2% in the third quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock valued at $46,574,000 after acquiring an additional 455,265 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Bancorp by 2.5% in the third quarter. Segall Bryant & Hamill LLC now owns 282,343 shares of the bank’s stock valued at $21,145,000 after acquiring an additional 6,865 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in Bancorp by 57.4% in the third quarter. Kennedy Capital Management LLC now owns 281,256 shares of the bank’s stock valued at $21,063,000 after acquiring an additional 102,534 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

NASDAQ TBBK opened at $56.01 on Wednesday. The firm has a 50-day moving average of $56.35 and a 200-day moving average of $60.96. 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 $2.33 billion, a PE ratio of 10.90 and a beta of 1.26. The Bancorp, Inc. has a 52-week low of $48.86 and a 52-week high of $81.65.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $132.50 million during the quarter, compared to analysts’ expectations of $189.17 million. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 5.95 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research note on Friday, March 27th. Piper Sandler assumed coverage on shares of Bancorp in a research note on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price target for the company. Wolfe Research set a $57.00 price target on shares of Bancorp in a research note on Monday, February 9th. Finally, Zacks Research upgraded shares of Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. 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. According to MarketBeat, Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Insider Transactions at Bancorp

In other news, EVP Ryan Harris sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $53.18, for a total transaction of $239,310.00. Following the completion of the sale, the executive vice president owned 150,516 shares in the company, valued at approximately $8,004,440.88. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Maria Wainwright sold 8,400 shares of the firm’s stock in a transaction dated 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 approximately $1,502,506.08. This represents a 25.19% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,370 shares of company stock worth $1,014,778. 6.00% of the stock is owned by insiders.

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.