Jupiter Asset Management Ltd. Acquires 241,058 Shares of The Bancorp, Inc. $TBBK

Jupiter Asset Management Ltd. increased its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 148.6% during the 4th quarter, HoldingsChannel reports. The firm owned 403,248 shares of the bank’s stock after purchasing an additional 241,058 shares during the period. Jupiter Asset Management Ltd.’s holdings in Bancorp were worth $27,227,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Penn Capital Management Company LLC lifted its holdings in shares of Bancorp by 6.6% during the 4th quarter. Penn Capital Management Company LLC now owns 190,838 shares of the bank’s stock valued at $12,900,000 after purchasing an additional 11,803 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Bancorp by 99.9% during the 4th quarter. Covestor Ltd now owns 2,029 shares of the bank’s stock valued at $137,000 after purchasing an additional 1,014 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Bancorp by 40.6% during the 4th quarter. Handelsbanken Fonder AB now owns 13,500 shares of the bank’s stock valued at $912,000 after purchasing an additional 3,900 shares in the last quarter. Abacus Wealth Partners LLC bought a new stake in Bancorp in the 4th quarter valued at approximately $304,000. Finally, Sequoia Financial Advisors LLC lifted its stake in Bancorp by 5.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,350 shares of the bank’s stock valued at $699,000 after acquiring an additional 546 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Insider Transactions at Bancorp

In other news, CMO Maria Wainwright sold 8,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the sale, the chief marketing officer owned 24,942 shares in the company, valued at $1,502,506.08. This represents a 25.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Erika R. Caesar sold 4,470 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the sale, the executive vice president owned 32,880 shares in the company, valued at approximately $1,982,006.40. This represents a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,370 shares of company stock worth $1,014,778 in the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Piper Sandler assumed coverage on Bancorp in a research note on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price on the stock. Wolfe Research set a $57.00 target price on Bancorp in a research note on Monday, February 9th. Finally, Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bancorp Trading Up 0.2%

NASDAQ TBBK opened at $55.16 on Friday. The Bancorp, Inc. has a 52 week low of $48.86 and a 52 week high of $81.65. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.73 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89. The stock’s 50 day moving average price is $56.49 and its two-hundred day moving average price is $60.82.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The company had revenue of $132.50 million for the quarter, compared to analysts’ expectations of $189.17 million. As a group, analysts anticipate that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

About Bancorp

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.