Siena Capital Partners GP LLC Boosts Holdings in The Bancorp, Inc. $TBBK

Siena Capital Partners GP LLC lifted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 67.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,465 shares of the bank’s stock after purchasing an additional 13,465 shares during the quarter. Siena Capital Partners GP LLC owned 0.08% of Bancorp worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Bancorp in the 4th quarter worth about $27,000. WINTON GROUP Ltd purchased a new position in shares of Bancorp in the 4th quarter worth about $1,236,000. Elgethun Capital Management raised its position in shares of Bancorp by 0.4% in the 4th quarter. Elgethun Capital Management now owns 220,172 shares of the bank’s stock worth $14,866,000 after purchasing an additional 971 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Bancorp by 43.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank’s stock worth $34,279,000 after purchasing an additional 154,539 shares during the last quarter. Finally, AXQ Capital LP purchased a new position in shares of Bancorp in the 4th quarter worth about $534,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

TBBK has been the subject of several recent analyst reports. Wolfe Research set a $57.00 price target on Bancorp in a research report on Monday, February 9th. Weiss Ratings lowered Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research raised Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Piper Sandler assumed coverage on Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Insider Buying and Selling at Bancorp

In other Bancorp news, EVP Erika R. Caesar sold 4,470 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 32,880 shares in the company, valued at $1,982,006.40. The trade was a 11.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ryan Harris sold 4,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $53.18, for a total value of $239,310.00. Following the sale, the executive vice president owned 150,516 shares of the company’s stock, valued at approximately $8,004,440.88. This represents a 2.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,370 shares of company stock worth $1,014,778 in the last three months. 6.00% of the stock is currently owned by company insiders.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $54.11 on Monday. The Bancorp, Inc. has a fifty-two week low of $49.36 and a fifty-two week high of $81.65. The business has a 50-day simple moving average of $56.57 and a two-hundred day simple moving average of $60.51. 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 firm has a market cap of $2.25 billion, a price-to-earnings ratio of 10.53 and a beta of 1.21.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The business had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. On average, analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current 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.