Franklin Resources Inc. Increases Position in The Bancorp, Inc. (NASDAQ:TBBK)

Franklin Resources Inc. increased its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 18.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 925,370 shares of the bank’s stock after acquiring an additional 144,867 shares during the quarter. Franklin Resources Inc.’s holdings in Bancorp were worth $52,061,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Bancorp by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after purchasing an additional 70,178 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock worth $72,914,000 after buying an additional 6,459 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in Bancorp by 11.6% in the second quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock valued at $16,717,000 after acquiring an additional 46,115 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Bancorp by 7.0% during the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in Bancorp during the 2nd quarter worth $12,757,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Insiders Place Their Bets

In related news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction dated 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 in the company, valued at $1,166,413.28. The trade was 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 through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of the company’s stock in a transaction dated 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 directly owns 73,114 shares of the company’s stock, valued at $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 quarter, insiders sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is owned by company insiders.

Bancorp Stock Performance

Shares of TBBK stock opened at $55.49 on Wednesday. The company has a market cap of $2.66 billion, a P/E ratio of 14.01 and a beta of 1.48. 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 business has a 50 day moving average of $55.27 and a two-hundred day moving average of $48.72.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.08). The firm 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 quarter in the prior year, the business earned $0.92 earnings per share. As a group, analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th.

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.