The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 42.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,120 shares of the bank’s stock after purchasing an additional 70,768 shares during the quarter. Segall Bryant & Hamill LLC owned 0.49% of Bancorp worth $12,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TBBK. SG Americas Securities LLC lifted its position in Bancorp by 15.1% during the 1st quarter. SG Americas Securities LLC now owns 6,689 shares of the bank’s stock worth $224,000 after acquiring an additional 877 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Bancorp by 6.2% during the first quarter. ProShare Advisors LLC now owns 10,417 shares of the bank’s stock worth $349,000 after purchasing an additional 606 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Bancorp by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,703 shares of the bank’s stock worth $525,000 after purchasing an additional 550 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock valued at $121,225,000 after purchasing an additional 16,482 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Bancorp during the 1st quarter valued at $444,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Insiders Place Their Bets

In related news, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the acquisition, the director now owns 56,636 shares in the company, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the transaction, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. The trade was a 11.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 company insiders.

Analyst Ratings Changes

TBBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Piper Sandler increased their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

Bancorp Stock Performance

Shares of TBBK stock opened at $54.98 on Thursday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.88 and a beta of 1.46. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $59.46. The company’s 50-day simple moving average is $53.38 and its 200-day simple moving average is $45.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same period in the prior year, the business earned $0.92 EPS. Equities analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share 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.