The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,700 shares of the bank’s stock after selling 14,300 shares during the period. Swiss National Bank owned about 0.20% of Bancorp worth $3,027,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Advisor Group Holdings Inc. boosted its holdings in shares of Bancorp by 28.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,547 shares of the bank’s stock worth $44,000 after buying an additional 339 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Bancorp by 28.1% in the third quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock worth $50,000 after buying an additional 500 shares during the period. Arizona State Retirement System boosted its holdings in shares of Bancorp by 3.8% in the fourth quarter. Arizona State Retirement System now owns 14,363 shares of the bank’s stock worth $408,000 after buying an additional 527 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of Bancorp by 1.0% in the first quarter. Engineers Gate Manager LP now owns 57,126 shares of the bank’s stock worth $1,618,000 after buying an additional 543 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of Bancorp by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 38,657 shares of the bank’s stock worth $1,077,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Matthew Cohn bought 5,868 shares of Bancorp stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $37.61 per share, for a total transaction of $220,695.48. Following the completion of the purchase, the director now directly owns 144,423 shares of the company’s stock, valued at $5,431,749.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Bancorp news, Director Matthew Cohn bought 5,868 shares of Bancorp stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $37.61 per share, for a total transaction of $220,695.48. Following the completion of the purchase, the director now directly owns 144,423 shares of the company’s stock, valued at $5,431,749.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Olek Derowe sold 2,750 shares of Bancorp stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.44, for a total transaction of $100,210.00. Following the completion of the sale, the executive vice president now owns 75,803 shares of the company’s stock, valued at $2,762,261.32. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

TBBK has been the subject of several recent analyst reports. Raymond James raised their target price on shares of Bancorp from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. StockNews.com started coverage on shares of Bancorp in a report on Sunday, August 20th. They issued a “hold” rating for the company. Finally, Piper Sandler raised their price target on shares of Bancorp from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

Bancorp Stock Performance

TBBK stock opened at $37.59 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 0.99. The stock has a market cap of $2.04 billion, a P/E ratio of 12.45 and a beta of 1.47. The firm has a 50 day simple moving average of $36.36 and a 200 day simple moving average of $32.95. The Bancorp, Inc. has a 52 week low of $21.58 and a 52 week high of $41.52.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. The business had revenue of $116.53 million during the quarter, compared to analysts’ expectations of $114.39 million. Bancorp had a net margin of 30.71% and a return on equity of 23.87%. Research analysts anticipate that The Bancorp, Inc. will post 3.66 earnings per share for the current fiscal year.

About Bancorp

The Bancorp, Inc operates as the financial 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, medical savings, money market, individual retirement, and commercial accounts; certificates of deposit; and payroll cards.