Olympiad Research LP Sells 3,399 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Olympiad Research LP trimmed its position in The Bancorp, Inc. (NASDAQ:TBBK) by 37.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,662 shares of the bank’s stock after selling 3,399 shares during the quarter. Olympiad Research LP’s holdings in Bancorp were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock valued at $1,056,000 after acquiring an additional 234 shares during the period. Blue Trust Inc. raised its holdings in 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 acquiring an additional 263 shares during the period. GAMMA Investing LLC raised its holdings in Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after acquiring an additional 291 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Bancorp by 0.5% in 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. Finally, Legend Financial Advisors Inc. grew its position in shares of Bancorp by 2.1% during the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after purchasing an additional 380 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th.

Insider Buying and Selling at Bancorp

In related news, Director Matthew Cohn bought 545 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Cohn purchased 545 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $50.11 per share, with a total value of $27,309.95. Following the purchase, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Bancorp Stock Performance

NASDAQ TBBK opened at $53.58 on Friday. 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 firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.53 and a beta of 1.46. The firm’s 50 day simple moving average is $52.31 and its 200 day simple moving average is $44.01. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $59.26.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results 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). The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 39.22%. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, research analysts expect that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Bancorp 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.