Napa Wealth Management Purchases Shares of 6,685 The Bancorp, Inc. (NASDAQ:TBBK)

Napa Wealth Management purchased a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,685 shares of the bank’s stock, valued at approximately $358,000.

A number of other institutional investors have also made changes to their positions in the business. Jane Street Group LLC grew its holdings 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 buying an additional 70,361 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Bancorp during the second quarter worth $391,000. Edgestream Partners L.P. acquired a new position in Bancorp during the 1st quarter valued at $444,000. Finally, Raymond James & Associates boosted its holdings in Bancorp by 55.9% in the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock valued at $2,690,000 after purchasing an additional 18,027 shares during the period. 96.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a report on Friday.

Insider Activity at Bancorp

In related news, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the sale, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. 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 in the last 90 days. 5.20% of the stock is owned by corporate insiders.

Bancorp Stock Up 1.7 %

TBBK opened at $55.17 on Monday. The company has a market capitalization of $2.64 billion, a P/E ratio of 13.93 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s fifty day moving average price is $52.95 and its two-hundred day moving average price is $45.17. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $59.46.

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

About Bancorp

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.