Siena Capital Partners GP LLC Buys 13,465 Shares of The Bancorp, Inc. $TBBK

Siena Capital Partners GP LLC lifted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBKFree Report) by 67.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,465 shares of the bank’s stock after acquiring an additional 13,465 shares during the quarter. Siena Capital Partners GP LLC’s holdings in Bancorp were worth $2,260,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in shares of Bancorp by 284.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 41,996 shares of the bank’s stock valued at $3,145,000 after acquiring an additional 31,085 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Bancorp by 12.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 179,654 shares of the bank’s stock valued at $13,454,000 after acquiring an additional 20,413 shares during the period. TD Asset Management Inc bought a new position in shares of Bancorp during the 3rd quarter valued at approximately $7,642,000. Penn Capital Management Company LLC bought a new position in shares of Bancorp during the 3rd quarter valued at approximately $13,422,000. Finally, Kennedy Capital Management LLC grew its stake in shares of Bancorp by 57.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 281,256 shares of the bank’s stock valued at $21,063,000 after acquiring an additional 102,534 shares during the period. 96.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TBBK has been the topic of a number of research analyst reports. Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research raised Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Wolfe Research set a $57.00 price target on Bancorp in a report on Monday, February 9th. Piper Sandler initiated coverage on Bancorp in a report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 price target on the stock. Finally, Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Get Our Latest Analysis on Bancorp

Insider Transactions at Bancorp

In other news, EVP Ryan Harris sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $53.18, for a total transaction of $239,310.00. Following the sale, the executive vice president directly owned 150,516 shares of the company’s stock, valued at $8,004,440.88. This represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Erika R. Caesar sold 4,470 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the sale, the executive vice president directly owned 32,880 shares in the company, valued at $1,982,006.40. This trade represents a 11.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,370 shares of company stock valued at $1,014,778 in the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Bancorp Price Performance

NASDAQ TBBK opened at $54.11 on Monday. The stock’s 50 day moving average is $56.57 and its 200 day moving average is $60.51. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 12 month low of $49.36 and a 12 month high of $81.65. The stock has a market cap of $2.25 billion, a PE ratio of 10.53 and a beta of 1.21.

Bancorp (NASDAQ:TBBKGet Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $132.50 million for the quarter, compared to analysts’ expectations of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. Research analysts predict that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

About Bancorp

(Free Report)

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.

See Also

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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