Loomis Sayles & Co. L P Sells 12,770 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Loomis Sayles & Co. L P lowered its position in The Bancorp, Inc. (NASDAQ:TBBK) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 535,366 shares of the bank’s stock after selling 12,770 shares during the period. Loomis Sayles & Co. L P owned 1.12% of Bancorp worth $28,642,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in Bancorp by 129.0% in the first 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 in the last quarter. Victory Capital Management Inc. grew its position in shares of Bancorp by 7.0% in the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after buying an additional 25,731 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Bancorp in the 2nd quarter worth about $391,000. Raymond James & Associates lifted its position in Bancorp by 55.9% during the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock valued at $2,690,000 after acquiring an additional 18,027 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Bancorp by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after acquiring an additional 16,482 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TBBK. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Piper Sandler raised their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Bancorp Trading Up 5.1 %

Shares of NASDAQ TBBK opened at $60.36 on Tuesday. The firm’s 50 day moving average price is $53.70 and its 200-day moving average price is $46.00. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $61.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market cap of $2.89 billion, a PE ratio of 15.24 and a beta of 1.46.

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). The business had revenue of $125.84 million during 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 last year, the company posted $0.92 earnings per share. On average, equities research analysts expect that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity at Bancorp

In related news, 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 transaction, the chief marketing officer now owns 23,291 shares in the company, valued at $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Cohn bought 545 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the acquisition, the director now directly owns 56,636 shares of the company’s stock, valued at $2,838,029.96. The trade was a 0.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,983 shares of company stock valued at $1,345,366 over the last ninety days. 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.