Charles Schwab Investment Management Inc. Sells 8,975 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Charles Schwab Investment Management Inc. lowered its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 454,619 shares of the bank’s stock after selling 8,975 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.93% of Bancorp worth $24,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after purchasing an additional 70,178 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Bancorp by 11.6% during the second quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock valued at $16,717,000 after acquiring an additional 46,115 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after acquiring an additional 25,731 shares in the last quarter. Nantahala Capital Management LLC bought a new position in shares of Bancorp during the second quarter valued at approximately $12,757,000. Finally, Marshall Wace LLP raised its holdings in shares of Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after acquiring an additional 96,072 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Insiders Place Their Bets

In other Bancorp news, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the transaction, the executive vice president now owns 74,798 shares in the company, valued at approximately $3,744,387.88. This represents a 11.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over 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 Price Performance

Shares of Bancorp stock opened at $56.88 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.73 billion, a PE ratio of 14.36 and a beta of 1.48. The business has a 50 day moving average of $54.76 and a 200 day moving average of $47.37. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data 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). The firm had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter last year, the company posted $0.92 EPS. As a group, equities research analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.

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.