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

Olympiad Research LP lessened its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 37.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,662 shares of the bank’s stock after selling 3,399 shares during the period. Olympiad Research LP’s holdings in Bancorp were worth $303,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised 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 buying an additional 16,482 shares during the last quarter. American Century Companies Inc. grew its holdings in Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after purchasing an additional 70,178 shares during the period. Jupiter Asset Management Ltd. grew 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 worth $16,717,000 after purchasing an additional 46,115 shares during the period. Victory Capital Management Inc. grew its holdings in Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after purchasing an additional 25,731 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in Bancorp in the second quarter worth $12,757,000. Institutional investors own 96.22% of the company’s stock.

Insider Activity

In related news, CMO Maria Wainwright sold 11,357 shares of the business’s 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 transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Maria Wainwright sold 11,357 shares of the business’s 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 transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas G. Pareigat sold 5,466 shares of the business’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 transaction, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock worth $1,345,366 over the last three months. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Bancorp Stock Down 5.7 %

Shares of NASDAQ TBBK opened at $53.58 on Friday. The stock has a market capitalization of $2.62 billion, a P/E ratio of 13.53 and a beta of 1.46. The company has a 50-day moving average price of $52.31 and a 200-day moving average price of $44.01. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $59.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analyst estimates of $131.34 million. Bancorp had a net margin of 39.22% and a return on equity of 26.63%. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that The Bancorp, Inc. will post 4.3 EPS 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.