Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,732 shares of the bank’s stock after selling 866 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bancorp were worth $726,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Royce & Associates LP bought a new position in shares of Bancorp during the first quarter valued at approximately $379,000. Legato Capital Management LLC boosted its stake in shares of Bancorp by 65.5% during the first quarter. Legato Capital Management LLC now owns 11,610 shares of the bank’s stock valued at $613,000 after purchasing an additional 4,595 shares in the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Bancorp during the first quarter valued at approximately $436,000. James Investment Research Inc. boosted its stake in shares of Bancorp by 13.7% during the first quarter. James Investment Research Inc. now owns 83,277 shares of the bank’s stock valued at $4,400,000 after purchasing an additional 10,013 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Bancorp by 5.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 70,941 shares of the bank’s stock valued at $3,748,000 after purchasing an additional 3,578 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Stock Performance

NASDAQ:TBBK opened at $62.76 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 13.50 and a beta of 1.30. The company’s 50-day moving average is $58.76 and its two-hundred day moving average is $54.94. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $70.63.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 million. Bancorp had a net margin of 32.85% and a return on equity of 27.24%. Analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Insider Activity at Bancorp

In related news, Director Matthew Cohn bought 550 shares of the stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $63.51 per share, for a total transaction of $34,930.50. Following the acquisition, the director owned 1,900 shares in the company, valued at approximately $120,669. This represents a 40.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Damian Kozlowski sold 39,659 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $62.74, for a total transaction of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares of the company’s stock, valued at approximately $41,261,337.44. This represents a 5.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 2,462 shares of company stock worth $157,786 and have sold 300,000 shares worth $19,260,310. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of Bancorp in a research note on Friday, July 18th. Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 7th. Jefferies Financial Group upgraded shares of Bancorp to a “buy” rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $65.00 price objective on shares of Bancorp in a research note on Friday, July 11th. Finally, Barclays reiterated a “buy” rating on shares of Bancorp in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bancorp currently has an average rating of “Moderate Buy” and an average price target of $62.00.

About Bancorp

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.