The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 1.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 294,861 shares of the bank’s stock after selling 4,207 shares during the quarter. Principal Financial Group Inc.’s holdings in Bancorp were worth $15,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after acquiring an additional 1,272 shares during the period. US Bancorp DE acquired a new stake in Bancorp during the 3rd quarter valued at $83,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Bancorp during the 2nd quarter valued at $216,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TBBK has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Friday.

Bancorp Trading Up 1.7 %

Bancorp stock opened at $55.17 on Friday. The firm’s 50-day moving average is $52.95 and its 200-day moving average is $44.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $59.46. The company has a market cap of $2.64 billion, a P/E ratio of 13.93 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (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 30.97%. The business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, equities analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Transactions at Bancorp

In related news, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the sale, the executive vice president now directly owns 73,114 shares in the company, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the sale, the executive vice president now owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is currently owned by insiders.

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.