Public Sector Pension Investment Board Sells 10,000 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Public Sector Pension Investment Board lowered its position in The Bancorp, Inc. (NASDAQ:TBBK) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,864 shares of the bank’s stock after selling 10,000 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Bancorp worth $5,557,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. GAMMA Investing LLC increased its holdings in Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares during the period. Advisors Asset Management Inc. raised its stake in Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares in the last quarter. US Bancorp DE purchased a new stake in Bancorp during the third quarter worth $83,000. Finally, EverSource Wealth Advisors LLC boosted its position in Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after acquiring an additional 1,272 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bancorp

In related news, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the completion of the transaction, the executive vice president now owns 74,798 shares in the company, valued at $3,744,387.88. This trade represents a 11.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,983 shares of company stock worth $1,345,366. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 25th.

Bancorp Trading Down 1.0 %

NASDAQ:TBBK opened at $58.43 on Monday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 14.76 and a beta of 1.46. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $54.34 and a 200 day moving average of $46.90.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal 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.