AlphaQuest LLC Trims Stock Holdings in The Bancorp, Inc. $TBBK

AlphaQuest LLC lessened its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 95.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,170 shares of the bank’s stock after selling 25,714 shares during the quarter. AlphaQuest LLC’s holdings in Bancorp were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TBBK. New York State Common Retirement Fund grew its position in shares of 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 during the period. First Citizens Bank & Trust Co. acquired a new stake in Bancorp in the 3rd quarter worth about $657,000. Quantbot Technologies LP grew its holdings in Bancorp by 445.8% in the 2nd quarter. Quantbot Technologies LP now owns 58,398 shares of the bank’s stock valued at $3,327,000 after buying an additional 47,699 shares during the period. California First Leasing Corp purchased a new stake in Bancorp in the 3rd quarter valued at about $1,850,000. Finally, American Century Companies Inc. increased its stake in shares of Bancorp by 3.3% during the 2nd quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock valued at $154,705,000 after acquiring an additional 86,721 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Insider Buying and Selling

In other news, CFO Dominic C. Canuso purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $60.54 per share, with a total value of $121,080.00. Following the acquisition, the chief financial officer owned 16,169 shares in the company, valued at approximately $978,871.26. This trade represents a 14.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Cohn purchased 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average price of $62.14 per share, for a total transaction of $42,255.20. Following the purchase, the director owned 3,655 shares of the company’s stock, valued at approximately $227,121.70. This represents a 22.86% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 9,080 shares of company stock valued at $548,933. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Bancorp in a research report on Monday, February 9th. Zacks Research cut shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Wolfe Research set a $57.00 price objective on Bancorp in a report on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.20.

Bancorp Stock Performance

NASDAQ:TBBK opened at $58.57 on Friday. The firm’s fifty day simple moving average is $66.90 and its 200 day simple moving average is $69.26. 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 twelve month low of $40.51 and a twelve month high of $81.65. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 11.90 and a beta of 1.31.

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

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.