Banc Funds Co. LLC Sells 2,000 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Banc Funds Co. LLC trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,592 shares of the bank’s stock after selling 2,000 shares during the quarter. Banc Funds Co. LLC owned 0.10% of Bancorp worth $2,439,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TBBK. Blue Trust Inc. lifted its holdings in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the period. Advisors Asset Management Inc. grew its stake in Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares in the last quarter. US Bancorp DE purchased a new position in Bancorp during the 3rd quarter worth $83,000. Finally, EverSource Wealth Advisors LLC raised its position in Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Price Performance

NASDAQ TBBK opened at $58.43 on Monday. The company has a market cap of $2.80 billion, a PE ratio of 14.76 and a beta of 1.46. The firm’s 50 day moving average price is $54.34 and its 200-day moving average price is $46.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $61.17.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 25th.

Insider Activity at Bancorp

In other news, Director Matthew Cohn purchased 545 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the transaction, the director now owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew J. Wallace sold 10,160 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the transaction, the executive vice president now directly owns 74,798 shares in the company, valued at approximately $3,744,387.88. The trade was a 11.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Bancorp Company 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.