Envestnet Asset Management Inc. Grows Stake in The Bancorp, Inc. $TBBK

Envestnet Asset Management Inc. lifted its position in The Bancorp, Inc. (NASDAQ:TBBK) by 284.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,996 shares of the bank’s stock after purchasing an additional 31,085 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Bancorp worth $3,145,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in Bancorp by 10.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 20,542 shares of the bank’s stock worth $1,588,000 after acquiring an additional 1,974 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Bancorp during the third quarter worth about $7,351,000. Great Lakes Advisors LLC bought a new position in shares of Bancorp in the third quarter worth approximately $227,000. New York State Common Retirement Fund raised its stake in Bancorp by 735.0% in the third quarter. New York State Common Retirement Fund now owns 139,489 shares of the bank’s stock valued at $10,446,000 after purchasing an additional 122,784 shares in the last quarter. Finally, James Investment Research Inc. lifted its position in Bancorp by 0.6% during the third quarter. James Investment Research Inc. now owns 81,424 shares of the bank’s stock valued at $6,098,000 after purchasing an additional 516 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

NASDAQ TBBK opened at $57.72 on Thursday. The company has a 50-day simple moving average of $65.24 and a two-hundred day simple moving average of $68.94. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 11.73 and a beta of 1.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

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

Insider Activity at Bancorp

In other news, Director Matthew Cohn acquired 680 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were purchased at an average price of $62.14 per share, for a total transaction of $42,255.20. Following the completion of the transaction, the director owned 3,655 shares of the company’s stock, valued at $227,121.70. The trade was a 22.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark E. Tryniski bought 5,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the acquisition, the director owned 18,966 shares of the company’s stock, valued at $1,142,322.18. This trade represents a 35.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 9,080 shares of company stock worth $548,933 in the last three months. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TBBK has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating on shares of Bancorp in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $58.20.

Bancorp Profile

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.