Sanctuary Advisors LLC Takes $300,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Sanctuary Advisors LLC bought a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,222 shares of the bank’s stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Bancorp by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after acquiring an additional 234 shares in the last quarter. Blue Trust Inc. increased its position in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after purchasing an additional 327 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Bancorp by 1.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock worth $1,157,000 after purchasing an additional 492 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Bancorp by 2.3% during the 3rd quarter. Natixis Advisors LLC now owns 30,551 shares of the bank’s stock worth $1,634,000 after buying an additional 673 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

Shares of TBBK opened at $53.58 on Friday. 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 stock has a 50-day moving average of $54.85 and a two-hundred day moving average of $49.81. The stock has a market cap of $2.57 billion, a P/E ratio of 13.53 and a beta of 1.48. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $61.17.

Bancorp (NASDAQ:TBBK) last released its 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). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. During the same period last year, the firm earned $0.92 EPS. As a group, research analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insider Activity

In other news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 32.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Cohn bought 545 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the acquisition, the director now owns 56,636 shares of the company’s stock, valued at $2,838,029.96. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 in the last ninety days. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

TBBK has been the subject of several recent analyst reports. Piper Sandler raised their price target on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Friday.

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.