Allspring Global Investments Holdings LLC Has $356,000 Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Allspring Global Investments Holdings LLC increased its stake in shares of The Bancorp, Inc. (NASDAQ:TBBKFree Report) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,637 shares of the bank’s stock after acquiring an additional 941 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bancorp were worth $356,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TBBK. New York State Teachers Retirement System lifted its position in shares of Bancorp by 3.3% in the 1st quarter. New York State Teachers Retirement System now owns 27,622 shares of the bank’s stock worth $924,000 after acquiring an additional 875 shares during the period. Arcus Capital Partners LLC acquired a new stake in Bancorp during the first quarter worth $221,000. Wealth Enhancement Advisory Services LLC bought a new stake in Bancorp in the 1st quarter valued at $679,000. First Hawaiian Bank raised its stake in shares of Bancorp by 24.7% in the 1st quarter. First Hawaiian Bank now owns 18,480 shares of the bank’s stock valued at $618,000 after buying an additional 3,661 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Bancorp by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 227,545 shares of the bank’s stock worth $8,774,000 after acquiring an additional 817 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Bancorp news, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total transaction of $362,218.08. Following the sale, the executive vice president now directly owns 15,262 shares in the company, valued at approximately $491,131.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Bancorp news, Director Cheryl Creuzot sold 766 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the sale, the director now owns 7,638 shares in the company, valued at approximately $249,304.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total transaction of $362,218.08. Following the transaction, the executive vice president now directly owns 15,262 shares of the company’s stock, valued at $491,131.16. The disclosure for this sale can be found here. Insiders have acquired 1,706 shares of company stock worth $54,962 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TBBK has been the topic of a number of analyst reports. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods dropped their target price on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Bancorp in a research note on Tuesday, July 2nd.

Check Out Our Latest Report on Bancorp

Bancorp Price Performance

NASDAQ:TBBK opened at $41.06 on Thursday. The company’s 50-day moving average price is $34.25 and its two-hundred day moving average price is $36.63. The firm has a market cap of $2.15 billion, a PE ratio of 11.16 and a beta of 1.47. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $47.11. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBKGet Free Report) last issued its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $123.80 million for the quarter, compared to analyst estimates of $126.86 million. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. During the same quarter last year, the firm earned $0.88 EPS. On average, equities analysts anticipate that The Bancorp, Inc. will post 4.53 EPS for the current fiscal year.

Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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