Emerald Advisers LLC Sells 103,343 Shares of The Bancorp, Inc. $TBBK

Emerald Advisers LLC reduced its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 17.4% in the 1st quarter, Holdings Channel reports. The firm owned 491,340 shares of the bank’s stock after selling 103,343 shares during the period. Emerald Advisers LLC’s holdings in Bancorp were worth $26,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Bancorp in the 4th quarter valued at $27,000. Lazard Asset Management LLC acquired a new position in shares of Bancorp during the 2nd quarter worth $53,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after buying an additional 659 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of Bancorp during the 3rd quarter worth $66,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Bancorp during the 4th quarter worth $68,000. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TBBK shares. Weiss Ratings upgraded Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods raised Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $72.00 to $77.00 in a research note on Thursday, July 9th. Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Wall Street Zen upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Bancorp Trading Down 0.0%

TBBK opened at $66.49 on Tuesday. The Bancorp, Inc. has a fifty-two week low of $50.20 and a fifty-two week high of $81.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 12.94 and a beta of 1.19. The company’s 50 day moving average price is $57.88 and its two-hundred day moving average price is $59.51.

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

Insider Buying and Selling at Bancorp

In related news, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the transaction, the executive vice president directly owned 32,880 shares of the company’s stock, valued at $1,982,006.40. This trade represents a 11.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total value of $506,016.00. Following the transaction, the chief marketing officer directly owned 24,942 shares in the company, valued at $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.00% of the company’s stock.

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.