The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Arcus Capital Partners LLC

Arcus Capital Partners LLC decreased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 18.7% in the third quarter, Holdings Channel reports. The institutional investor owned 6,285 shares of the bank’s stock after selling 1,449 shares during the period. Arcus Capital Partners LLC’s holdings in Bancorp were worth $336,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Entropy Technologies LP boosted its position in Bancorp by 256.2% during the first quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock worth $782,000 after purchasing an additional 16,812 shares in the last quarter. Jane Street Group LLC grew its stake in Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after acquiring an additional 70,361 shares during the period. BNP Paribas Financial Markets grew its stake in Bancorp by 51.6% in the 1st quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock valued at $2,404,000 after acquiring an additional 24,453 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Bancorp by 71.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after acquiring an additional 164,855 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Bancorp by 7.0% during the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after acquiring an additional 25,731 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Matthew J. Wallace sold 10,160 shares of Bancorp 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 sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Thomas G. Pareigat sold 5,466 shares of the 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 completion of the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of the business’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 value of $508,609.60. Following the completion of the sale, the executive vice president now directly owns 74,798 shares in the company, valued at approximately $3,744,387.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,983 shares of company stock valued at $1,345,366. Insiders own 5.20% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $58.35 on Tuesday. The firm has a 50-day simple moving average of $52.47 and a 200-day simple moving average of $44.46. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.73 and a beta of 1.46. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.41.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 39.22%. During the same period last year, the business earned $0.92 earnings per share. On average, equities analysts predict that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TBBK shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler increased their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th.

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.