Cynosure Group LLC Makes New $367,000 Investment in The Bancorp, Inc. (NASDAQ:TBBK)

Cynosure Group LLC purchased a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,862 shares of the bank’s stock, valued at approximately $367,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Bancorp by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after purchasing an additional 16,482 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Bancorp by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after acquiring an additional 302 shares during the period. Lazard Asset Management LLC increased its stake in shares of Bancorp by 51.5% in the 1st quarter. Lazard Asset Management LLC now owns 15,296 shares of the bank’s stock worth $511,000 after purchasing an additional 5,201 shares in the last quarter. Jane Street Group LLC raised 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 worth $4,180,000 after purchasing an additional 70,361 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Bancorp by 345.7% during the first 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 currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $59.05 on Friday. 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 Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17. The firm has a fifty day moving average price of $54.14 and a 200-day moving average price of $46.46. The stock has a market cap of $2.83 billion, a PE ratio of 14.91 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business 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 in the prior year, the business earned $0.92 earnings per share. Equities analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Monday.

Insider Buying and Selling

In related news, Director Matthew Cohn purchased 545 shares of Bancorp stock in a transaction on Tuesday, October 29th. The shares were bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. The trade was a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,983 shares of company stock valued at $1,345,366. Corporate insiders own 5.20% of the company’s stock.

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.