Congress Asset Management Co. MA Raises Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Congress Asset Management Co. MA increased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,545 shares of the bank’s stock after acquiring an additional 817 shares during the period. Congress Asset Management Co. MA owned approximately 0.43% of Bancorp worth $8,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC raised its stake in Bancorp by 63.6% in the 4th quarter. Rafferty Asset Management LLC now owns 73,827 shares of the bank’s stock worth $2,847,000 after acquiring an additional 28,699 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Bancorp by 79.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 88,285 shares of the bank’s stock valued at $3,404,000 after buying an additional 38,961 shares during the period. First Hawaiian Bank lifted its holdings in shares of Bancorp by 45.9% in the 4th quarter. First Hawaiian Bank now owns 14,819 shares of the bank’s stock valued at $571,000 after buying an additional 4,664 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Bancorp by 89.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 127,192 shares of the bank’s stock valued at $4,904,000 after buying an additional 60,016 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Bancorp by 24.0% in the 3rd quarter. Invesco Ltd. now owns 219,127 shares of the bank’s stock valued at $7,560,000 after buying an additional 42,346 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

NASDAQ TBBK opened at $32.76 on Monday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 8.90 and a beta of 1.42. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $47.11. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $32.70 and a 200 day moving average of $37.02.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 31.40%. The company had revenue of $123.80 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter in the prior year, the firm posted $0.88 EPS. Sell-side analysts anticipate that The Bancorp, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TBBK. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Keefe, Bruyette & Woods decreased their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 5th.

Insiders Place Their Bets

In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the sale, the executive vice president now directly owns 15,262 shares in the company, valued at approximately $491,131.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the sale, the executive vice president now directly owns 15,262 shares in the company, valued at approximately $491,131.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hersh Kozlov acquired 1,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $32.53 per share, with a total value of $32,530.00. Following the completion of the purchase, the director now owns 111,264 shares in the company, valued at approximately $3,619,417.92. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,706 shares of company stock worth $54,962. Corporate insiders own 5.20% of the company’s stock.

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.