10,063 Shares in The Bancorp, Inc. (NASDAQ:TBBK) Acquired by Truist Financial Corp

Truist Financial Corp acquired a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,063 shares of the bank’s stock, valued at approximately $329,000.

Several other large investors have also recently modified their holdings of TBBK. BlackRock Inc. increased its stake in Bancorp by 2.3% during the 1st quarter. BlackRock Inc. now owns 8,494,240 shares of the bank’s stock valued at $240,641,000 after purchasing an additional 192,639 shares in the last quarter. FMR LLC increased its stake in Bancorp by 7.5% during the 1st quarter. FMR LLC now owns 4,997,138 shares of the bank’s stock valued at $139,170,000 after purchasing an additional 347,551 shares in the last quarter. Vanguard Group Inc. increased its stake in Bancorp by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,562,416 shares of the bank’s stock valued at $78,302,000 after purchasing an additional 13,842 shares in the last quarter. State Street Corp increased its stake in Bancorp by 9.6% during the 1st quarter. State Street Corp now owns 2,735,551 shares of the bank’s stock valued at $77,498,000 after purchasing an additional 239,939 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Bancorp by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,577,944 shares of the bank’s stock valued at $71,795,000 after purchasing an additional 10,005 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $37.55 on Monday. The company’s fifty day moving average price is $35.21 and its 200 day moving average price is $34.71. The Bancorp, Inc. has a 1 year low of $25.13 and a 1 year high of $41.52. The company has a market capitalization of $2.04 billion, a PE ratio of 11.04 and a beta of 1.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.00.

Wall Street Analysts Forecast Growth

TBBK has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Bancorp in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler upped their price target on shares of Bancorp from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, Raymond James upped their price objective on shares of Bancorp from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Bancorp presently has an average rating of “Moderate Buy” and an average target price of $43.67.

Insider Buying and Selling

In other news, Director Daniela Mielke purchased 1,275 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average cost of $39.09 per share, with a total value of $49,839.75. Following the completion of the acquisition, the director now owns 22,105 shares of the company’s stock, valued at approximately $864,084.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Daniela Mielke bought 1,275 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average price of $39.09 per share, for a total transaction of $49,839.75. Following the completion of the transaction, the director now directly owns 22,105 shares in the company, valued at $864,084.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey A. Nager sold 5,234 shares of Bancorp stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $38.26, for a total transaction of $200,252.84. Following the completion of the sale, the executive vice president now owns 102,261 shares in the company, valued at approximately $3,912,505.86. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

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.