Point72 Asia Singapore Pte. Ltd. Makes New Investment in The Bancorp, Inc. (NASDAQ:TBBK)

Point72 Asia Singapore Pte. Ltd. acquired a new position in The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 9,498 shares of the bank’s stock, valued at approximately $508,000.

Other large investors have also recently made changes to their positions in the company. Nantahala Capital Management LLC purchased a new position in Bancorp during the second quarter valued at approximately $12,757,000. Lisanti Capital Growth LLC bought a new stake in shares of Bancorp during the 3rd quarter valued at $6,100,000. Marshall Wace LLP lifted its stake in shares of Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after buying an additional 96,072 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after buying an additional 70,768 shares during the period. Finally, Jane Street Group LLC increased its stake in Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after buying an additional 70,361 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Trading Down 1.9 %

Shares of Bancorp stock opened at $57.33 on Tuesday. 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 firm has a market cap of $2.75 billion, a price-to-earnings ratio of 14.48 and a beta of 1.48. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $61.17. The business has a 50-day moving average price of $54.42 and a 200-day moving average price of $47.07.

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 the consensus estimate of $1.12 by ($0.08). The firm had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period last year, the company earned $0.92 earnings per share. Equities research analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity at Bancorp

In other Bancorp news, EVP Thomas G. Pareigat sold 5,466 shares of the business’s stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Maria Wainwright sold 11,357 shares of the firm’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 value of $568,758.56. Following the completion of the sale, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock valued at $1,345,366 over the last 90 days. 5.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.