The Bancorp, Inc. (NASDAQ:TBBK) Holdings Lifted by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lifted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 42.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 238,120 shares of the bank’s stock after acquiring an additional 70,768 shares during the period. Segall Bryant & Hamill LLC’s holdings in Bancorp were worth $12,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after acquiring an additional 291 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Bancorp by 345.7% during 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. US Bancorp DE acquired a new stake in Bancorp in the third quarter worth about $83,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Bancorp in the 2nd quarter valued at about $216,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Performance

Shares of TBBK opened at $54.98 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s 50 day moving average is $53.38 and its 200-day moving average is $45.57. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $59.46. The stock has a market capitalization of $2.64 billion, a P/E ratio of 13.88 and a beta of 1.46.

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

Insider Buying and Selling

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the sale, the executive vice president now owns 73,114 shares in the company, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew J. Wallace sold 10,160 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This trade represents a 11.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 in the last three months. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TBBK. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, Piper Sandler increased 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 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.