Natixis Advisors LLC Purchases 673 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Natixis Advisors LLC increased its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 30,551 shares of the bank’s stock after purchasing an additional 673 shares during the period. Natixis Advisors LLC owned 0.06% of Bancorp worth $1,634,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Summit Asset Management LLC bought a new position in shares of Bancorp during the 3rd quarter worth approximately $281,000. Entropy Technologies LP boosted its position in Bancorp by 175.4% during the third quarter. Entropy Technologies LP now owns 18,997 shares of the bank’s stock worth $1,016,000 after purchasing an additional 12,100 shares during the period. Versor Investments LP acquired a new position in shares of Bancorp in the third quarter valued at $514,000. Lisanti Capital Growth LLC bought a new position in shares of Bancorp in the third quarter valued at about $6,100,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Bancorp during the 3rd quarter worth about $2,080,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analysts Set New Price Targets

TBBK has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler boosted their price target on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

Bancorp Stock Performance

NASDAQ TBBK opened at $60.36 on Tuesday. The firm has a 50-day moving average price of $53.70 and a two-hundred day moving average price of $46.00. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $61.17. The company has a market capitalization of $2.89 billion, a P/E ratio of 15.24 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results 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 company had revenue of $125.84 million for the quarter, compared to analyst estimates 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 prior year, the company earned $0.92 EPS. Analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

Insider Activity at Bancorp

In other Bancorp news, Director Matthew Cohn acquired 545 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the transaction, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the sale, the executive vice president now directly owns 73,114 shares in the company, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 over the last quarter. 5.20% of the stock is owned by corporate insiders.

About Bancorp

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.