Stifel Financial Corp Takes Position in The Bancorp, Inc. (NASDAQ:TBBK)

Stifel Financial Corp bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,620 shares of the bank’s stock, valued at approximately $729,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after acquiring an additional 263 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Bancorp in the 3rd quarter worth approximately $54,000. GAMMA Investing LLC lifted its stake in Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after purchasing an additional 327 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of Bancorp during the 3rd quarter worth $83,000. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 19th.

Insider Buying and Selling

In other news, Director Matthew Cohn purchased 545 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. The trade was a 32.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,983 shares of company stock valued at $1,345,366. Company insiders own 5.20% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK opened at $54.00 on Thursday. 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 Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company’s fifty day moving average is $55.12 and its 200-day moving average is $49.60. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 13.64 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The company had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same quarter last year, the company posted $0.92 EPS. Equities analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Bancorp Profile

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.