Whittier Trust Co. of Nevada Inc. Buys 5,482 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 4.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,933 shares of the bank’s stock after purchasing an additional 5,482 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned about 0.27% of Bancorp worth $5,282,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TBBK. GAMMA Investing LLC raised its stake in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Bancorp in the fourth quarter valued at $115,000. Summit Asset Management LLC bought a new position in shares of Bancorp during the fourth quarter valued at $202,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Bancorp during the 2nd quarter valued at about $216,000. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of several analyst reports. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler raised their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

Insider Activity

In other news, Director Cheryl Creuzot sold 766 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total value of $25,002.24. Following the completion of the transaction, the director now owns 7,638 shares in the company, valued at $249,304.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.20% of the company’s stock.

Bancorp Trading Up 2.9 %

NASDAQ TBBK traded up $1.46 during trading on Thursday, reaching $51.59. 192,673 shares of the stock traded hands, compared to its average volume of 625,271. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 14.07 and a beta of 1.47. The stock’s 50-day moving average price is $45.13 and its 200 day moving average price is $38.61. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $53.48.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The firm had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. Analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current year.

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.