Loomis Sayles & Co. L P Reduces Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Loomis Sayles & Co. L P trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 535,366 shares of the bank’s stock after selling 12,770 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Bancorp were worth $28,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Bancorp by 60.5% during 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. Blue Trust Inc. lifted its position in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares during the period. Advisors Asset Management Inc. increased its position in Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares in the last quarter. Finally, US Bancorp DE purchased a new stake in Bancorp in the third quarter worth about $83,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.06, for a total value of $508,609.60. Following the sale, the executive vice president now owns 74,798 shares in the company, valued at approximately $3,744,387.88. The trade was a 11.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction 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 sale, the chief marketing officer now directly owns 23,291 shares in the company, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock worth $1,345,366 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Bancorp Stock Performance

NASDAQ:TBBK opened at $60.36 on Tuesday. The stock has a 50-day moving average price of $53.70 and a 200 day moving average price of $46.00. The stock has a market capitalization of $2.89 billion, a P/E ratio of 15.24 and a beta of 1.46. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $61.17. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last announced 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). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The company had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. During the same period last year, the business earned $0.92 earnings per share. Equities research analysts forecast that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Analysts Set New Price Targets

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