Barclays PLC Increases Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Barclays PLC boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 61.3% in the second quarter, Holdings Channel.com reports. The fund owned 85,537 shares of the bank’s stock after buying an additional 32,509 shares during the quarter. Barclays PLC’s holdings in Bancorp were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisor Group Holdings Inc. lifted its position in Bancorp by 325.8% in the first quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after acquiring an additional 935 shares during the last quarter. Federated Hermes Inc. raised 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 valued at $50,000 after buying an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Bancorp in the fourth quarter valued at about $56,000. Point72 Hong Kong Ltd purchased a new stake in shares of Bancorp in the second quarter valued at about $63,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Bancorp by 93.9% in the first quarter. PNC Financial Services Group Inc. now owns 3,012 shares of the bank’s stock valued at $86,000 after buying an additional 1,459 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Bancorp Trading Up 0.5 %

Shares of Bancorp stock opened at $37.55 on Monday. The Bancorp, Inc. has a 52-week low of $25.13 and a 52-week high of $41.52. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $35.21 and its 200-day simple moving average is $34.71. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 11.04 and a beta of 1.55.

Insider Transactions at Bancorp

In other news, EVP Ryan Harris sold 9,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $36.50, for a total transaction of $328,500.00. Following the transaction, the executive vice president now directly owns 109,501 shares in the company, valued at $3,996,786.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Jeffrey A. Nager sold 5,234 shares of the business’s 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 transaction, the executive vice president now directly owns 102,261 shares in the company, valued at $3,912,505.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ryan Harris sold 9,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $36.50, for a total transaction of $328,500.00. Following the transaction, the executive vice president now owns 109,501 shares in the company, valued at $3,996,786.50. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TBBK. Raymond James upped their target price on shares of Bancorp from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, July 31st. StockNews.com began coverage on shares of Bancorp in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Piper Sandler upped their target price on shares of Bancorp from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, October 30th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

Bancorp Company Profile

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.