Anderson Hoagland & Co. Trims Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Anderson Hoagland & Co. cut its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,760 shares of the bank’s stock after selling 3,825 shares during the period. Anderson Hoagland & Co.’s holdings in Bancorp were worth $3,394,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TBBK. Janney Montgomery Scott LLC grew its holdings in Bancorp by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,403 shares of the bank’s stock valued at $284,000 after purchasing an additional 539 shares during the period. Sheets Smith Wealth Management increased its holdings in Bancorp by 42.6% in the 4th quarter. Sheets Smith Wealth Management now owns 10,029 shares of the bank’s stock worth $528,000 after acquiring an additional 2,998 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after purchasing an additional 219,020 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after purchasing an additional 56,959 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Trading Up 0.6 %

Shares of TBBK stock opened at $55.56 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $61.17. The company’s 50-day moving average price is $55.03 and its 200-day moving average price is $52.41. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 14.03 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, equities analysts predict that The Bancorp, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TBBK shares. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Piper Sandler upped their price target on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd.

Insider Activity

In related news, Director Matthew Cohn bought 545 shares of the stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the purchase, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,983 shares of company stock valued at $1,345,366. 5.20% of the stock is currently owned by company insiders.

Bancorp Profile

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.