The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 132.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 383,784 shares of the bank’s stock after purchasing an additional 219,020 shares during the period. JPMorgan Chase & Co. owned about 0.80% of Bancorp worth $20,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TBBK. American Century Companies Inc. raised its stake in Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after acquiring an additional 70,178 shares during the period. Geode Capital Management LLC grew its holdings in shares of Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after purchasing an additional 6,459 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Bancorp by 18.6% during the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 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 valued at $16,717,000 after purchasing an additional 46,115 shares during the period. Finally, 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 valued at $14,775,000 after purchasing an additional 25,731 shares during the period. 96.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TBBK shares. Piper Sandler raised their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th.

Bancorp Price Performance

Shares of TBBK opened at $51.91 on Thursday. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $61.17. The stock’s fifty day moving average is $54.88 and its 200-day moving average is $50.99. 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 firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 13.11 and a beta of 1.49.

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

Insiders Place Their Bets

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the business’s 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 sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total value of $508,609.60. Following the transaction, the executive vice president now directly owns 74,798 shares of the company’s stock, valued at $3,744,387.88. This represents a 11.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock worth $1,345,366 over the last ninety days. Company 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.