Boothbay Fund Management LLC Buys 126,897 Shares of The Bancorp, Inc. $TBBK

Boothbay Fund Management LLC grew its stake in The Bancorp, Inc. (NASDAQ:TBBK – Free Report) by 269.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,013 shares of the bank’s stock after purchasing an additional 126,897 shares during the period. Boothbay Fund Management LLC’s holdings in Bancorp were worth $11,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Rothschild Investment LLC grew its stake in shares of Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after purchasing an additional 235 shares during the period. Hilton Head Capital Partners LLC bought a new stake in Bancorp during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. grew its position in Bancorp by 732.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock worth $56,000 after acquiring an additional 659 shares during the last quarter. IFP Advisors Inc bought a new stake in Bancorp during the 3rd quarter worth approximately $66,000. Finally, Lazard Asset Management LLC bought a new stake in Bancorp during the 2nd quarter worth approximately $53,000. 96.22% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other Bancorp news, CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the transaction, the chief marketing officer owned 24,942 shares of the company’s stock, valued at $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the business’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 transaction, the executive vice president directly owned 32,880 shares in the company, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their position. The SEC filing for this sale provides additional information. 6.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TBBK shares. Piper Sandler started coverage on Bancorp in a research report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target on the stock. Wall Street Zen upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Weiss Ratings lowered Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Read Our Latest Stock Analysis on Bancorp

Bancorp Stock Performance

Shares of Bancorp stock opened at $55.29 on Thursday. The company has a market capitalization of $2.30 billion, a PE ratio of 10.76 and a beta of 1.21. The Bancorp, Inc. has a 12 month low of $49.66 and a 12 month high of $81.65. 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 stock’s fifty day simple moving average is $56.84 and its 200 day simple moving average is $60.15.

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

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