Arcus Capital Partners LLC Sells 1,449 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Arcus Capital Partners LLC decreased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 18.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,285 shares of the bank’s stock after selling 1,449 shares during the quarter. Arcus Capital Partners LLC’s holdings in Bancorp were worth $336,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Bancorp by 9.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,637 shares of the bank’s stock valued at $356,000 after acquiring an additional 941 shares during the period. BNP Paribas Financial Markets lifted its stake in Bancorp by 51.6% in the first quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock worth $2,404,000 after purchasing an additional 24,453 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 46,959 shares of the bank’s stock worth $1,571,000 after purchasing an additional 608 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Bancorp by 15.1% during the first quarter. SG Americas Securities LLC now owns 6,689 shares of the bank’s stock valued at $224,000 after buying an additional 877 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Bancorp by 7.1% during the first quarter. Illinois Municipal Retirement Fund now owns 34,233 shares of the bank’s stock valued at $1,145,000 after buying an additional 2,283 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Insider Activity

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value 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. 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 is available at the SEC website. In other news, 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 sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the company’s 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,983 shares of company stock worth $1,345,366. 5.20% of the stock is currently owned by company insiders.

Bancorp Price Performance

Shares of TBBK stock opened at $58.35 on Tuesday. 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 stock has a fifty day simple moving average of $52.47 and a two-hundred day simple moving average of $44.46. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.73 and a beta of 1.46. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.41.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 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 39.22% and a return on equity of 26.63%. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TBBK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler upped 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.

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.