UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in The Bancorp, Inc. (NASDAQ:TBBK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,590 shares of the bank’s stock after selling 6,085 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of Bancorp worth $6,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nantahala Capital Management LLC bought a new stake in Bancorp during the 2nd quarter worth approximately $12,757,000. Lisanti Capital Growth LLC purchased a new stake in Bancorp during the 3rd quarter valued at $6,100,000. Marshall Wace LLP boosted its position in Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after buying an additional 96,072 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after purchasing an additional 70,768 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Bancorp by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after purchasing an additional 70,178 shares during the period. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $55.18 on Wednesday. The firm’s 50-day moving average price is $55.00 and its 200-day moving average price is $48.05. 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 $2.64 billion, a PE ratio of 13.93 and a beta of 1.48. 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 business had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period in the previous year, the business posted $0.92 EPS. As a group, analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Matthew Cohn purchased 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.