Principal Financial Group Inc. Sells 15,738 Shares of The Bancorp, Inc. $TBBK

Principal Financial Group Inc. trimmed its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 297,530 shares of the bank’s stock after selling 15,738 shares during the quarter. Principal Financial Group Inc. owned about 0.65% of Bancorp worth $22,282,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Bancorp during the 2nd quarter worth approximately $53,000. Covestor Ltd lifted its holdings in shares of Bancorp by 3,525.0% during the 3rd quarter. Covestor Ltd now owns 1,015 shares of the bank’s stock valued at $76,000 after purchasing an additional 987 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bancorp by 19.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock worth $119,000 after purchasing an additional 261 shares in the last quarter. Strs Ohio acquired a new stake in shares of Bancorp in the 3rd quarter worth $127,000. Finally, Nisa Investment Advisors LLC grew its stake in Bancorp by 8.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock worth $157,000 after buying an additional 169 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TBBK shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Zacks Research cut shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. William Blair set a $60.00 target price on shares of Bancorp in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $62.02 on Friday. The company has a 50 day simple moving average of $67.59 and a two-hundred day simple moving average of $69.53. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 12.61 and a beta of 1.31. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $81.65.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The business had revenue of $132.21 million for the quarter, compared to analysts’ expectations of $101.10 million. As a group, analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Insider Activity at Bancorp

In other news, Director Mark E. Tryniski bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $60.23 per share, for a total transaction of $301,150.00. Following the purchase, the director directly owned 18,966 shares in the company, valued at approximately $1,142,322.18. This trade represents a 35.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dominic C. Canuso purchased 1,800 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average cost of $61.24 per share, for a total transaction of $110,232.00. Following the completion of the acquisition, the chief financial officer directly owned 3,500 shares of the company’s stock, valued at $214,340. This represents a 105.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 8,500 shares of company stock valued at $521,270. 5.60% of the stock is owned by company insiders.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.