State Street Corp Sells 295,483 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

State Street Corp decreased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,063,515 shares of the bank’s stock after selling 295,483 shares during the quarter. State Street Corp owned 0.06% of Bancorp worth $163,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nantahala Capital Management LLC acquired a new position in Bancorp during the second quarter worth about $12,757,000. Lisanti Capital Growth LLC acquired a new position in Bancorp during the third quarter worth about $6,100,000. Marshall Wace LLP raised its stake in Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after acquiring an additional 96,072 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Bancorp by 42.3% during the third quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after acquiring an additional 70,768 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after acquiring an additional 70,178 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday.

Bancorp Stock Up 0.5 %

Shares of NASDAQ TBBK opened at $56.08 on Friday. The stock has a 50-day moving average price of $55.21 and a two-hundred day moving average price of $48.32. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 14.16 and a beta of 1.48.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (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 firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $131.34 million. During the same period in the prior year, the company earned $0.92 EPS. As a group, analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In other Bancorp news, EVP Matthew J. Wallace sold 10,160 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This represents a 11.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total transaction of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 over the last quarter. 5.20% of the stock is owned by company insiders.

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.