Entropy Technologies LP Grows Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Entropy Technologies LP grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 175.4% in the third quarter, Holdings Channel reports. The fund owned 18,997 shares of the bank’s stock after acquiring an additional 12,100 shares during the quarter. Entropy Technologies LP’s holdings in Bancorp were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Nantahala Capital Management LLC purchased a new position in Bancorp in the second quarter valued at approximately $12,757,000. Jupiter Asset Management Ltd. lifted its position in shares of Bancorp by 71.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after buying an additional 164,855 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Bancorp during the 3rd quarter worth $6,100,000. Marshall Wace LLP grew its stake in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after acquiring an additional 96,072 shares during the period. Finally, Jane Street Group LLC raised its stake in Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after acquiring an additional 70,361 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Trading Down 1.0 %

Shares of TBBK opened at $56.82 on Thursday. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.46. The stock has a market cap of $2.72 billion, a PE ratio of 14.35 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $52.74 and its 200-day moving average price is $44.73.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same period last year, the company posted $0.92 EPS. On average, equities analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TBBK. Piper Sandler increased their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the sale, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 26,983 shares of company stock worth $1,345,366. Corporate insiders own 5.20% of the company’s stock.

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.