Thrivent Financial for Lutherans Has $2.06 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Thrivent Financial for Lutherans trimmed its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 39.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,447 shares of the bank’s stock after selling 24,959 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Bancorp worth $2,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Bancorp by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after buying an additional 16,482 shares during the period. American Century Companies Inc. boosted its position in Bancorp by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after buying an additional 70,178 shares during the period. Jupiter Asset Management Ltd. boosted its position in Bancorp by 11.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after buying an additional 46,115 shares during the period. Victory Capital Management Inc. boosted its position in Bancorp by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after buying an additional 25,731 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in Bancorp during the 2nd quarter worth approximately $12,757,000. 96.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the business’s 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 completion of the sale, the chief marketing officer now owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average price of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is owned by corporate insiders.

Bancorp Stock Up 0.4 %

Shares of NASDAQ TBBK opened at $59.05 on Friday. The company has a market capitalization of $2.83 billion, a P/E ratio of 14.91 and a beta of 1.46. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $61.17. 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 company’s 50 day moving average price is $54.14 and its 200-day moving average price is $46.46.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a net margin of 30.97% and a return on equity of 26.63%. During the same quarter last year, the firm posted $0.92 EPS. Equities analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Monday.

Bancorp 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.