The Bancorp, Inc. $TBBK Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 297,530 shares of the bank’s stock after selling 15,738 shares during the period. Principal Financial Group Inc.’s holdings in Bancorp were worth $22,282,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TBBK. Lazard Asset Management LLC purchased a new stake in Bancorp in the 2nd quarter worth $53,000. Covestor Ltd grew its position in shares of Bancorp by 3,525.0% in the third quarter. Covestor Ltd now owns 1,015 shares of the bank’s stock valued at $76,000 after purchasing an additional 987 shares during the period. GAMMA Investing LLC grew its position in shares of Bancorp by 19.7% in the third quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock valued at $119,000 after purchasing an additional 261 shares during the period. Strs Ohio purchased a new stake in shares of Bancorp during the third quarter worth about $127,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Bancorp by 8.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock worth $157,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Insider Activity

In other news, CFO Dominic C. Canuso purchased 1,800 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average price of $61.24 per share, for a total transaction of $110,232.00. Following the acquisition, the chief financial officer directly owned 3,500 shares of the company’s stock, valued at approximately $214,340. This represents a 105.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark E. Tryniski purchased 5,000 shares of Bancorp stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average cost of $60.23 per share, for a total transaction of $301,150.00. Following the transaction, the director owned 18,966 shares in the company, valued at approximately $1,142,322.18. This trade represents a 35.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 8,500 shares of company stock valued at $521,270. 5.60% of the stock is owned by company insiders.

Bancorp Stock Performance

NASDAQ TBBK opened at $62.02 on Friday. The stock’s fifty day moving average is $67.59 and its two-hundred day moving average is $69.53. The firm has a market capitalization of $2.72 billion, a P/E ratio of 12.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The company had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 26.15%. On average, research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Zacks Research lowered Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. William Blair set a $60.00 price target on Bancorp in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Bancorp in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

Bancorp Profile

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.