Citigroup Inc. Sells 12,885 Shares of The Bancorp, Inc. $TBBK

Citigroup Inc. lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,785 shares of the bank’s stock after selling 12,885 shares during the period. Citigroup Inc. owned approximately 0.17% of Bancorp worth $5,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC increased its position in Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. grew its stake in Bancorp by 78.6% in the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after acquiring an additional 176 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Bancorp during the second quarter valued at approximately $53,000. Covestor Ltd raised its position in shares of Bancorp by 3,525.0% during the third quarter. Covestor Ltd now owns 1,015 shares of the bank’s stock worth $76,000 after purchasing an additional 987 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 0.9%

TBBK opened at $54.64 on Wednesday. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65. The firm has a market capitalization of $2.31 billion, a P/E ratio of 11.11 and a beta of 1.31. The company’s 50-day moving average is $64.04 and its 200 day moving average is $68.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share (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 25.94%.The firm had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on TBBK shares. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Bancorp in a report on Wednesday, January 21st. Piper Sandler reiterated an “overweight” rating on shares of Bancorp in a research note on Monday, February 9th. Finally, Bank of America set a $60.00 price objective on Bancorp in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.20.

Insider Activity at Bancorp

In other Bancorp news, CFO Dominic C. Canuso purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $60.54 per share, for a total transaction of $121,080.00. Following the completion of the acquisition, the chief financial officer owned 16,169 shares of the company’s stock, valued at $978,871.26. The trade was a 14.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark E. Tryniski acquired 5,000 shares of Bancorp stock in a transaction on Wednesday, February 4th. The stock was acquired at an average price of $60.23 per share, with a total value 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 9,080 shares of company stock valued at $548,933. 5.20% of the stock is owned by insiders.

Bancorp Company 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.