Hsbc Holdings PLC Lowers Stock Holdings in The Bancorp, Inc. $TBBK

Hsbc Holdings PLC cut its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 38.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,816 shares of the bank’s stock after selling 15,270 shares during the period. Hsbc Holdings PLC’s holdings in Bancorp were worth $1,677,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Bancorp by 4.8% during the third quarter. Invesco Ltd. now owns 2,781,772 shares of the bank’s stock worth $208,327,000 after purchasing an additional 126,302 shares during the last quarter. Nantahala Capital Management LLC lifted its position in Bancorp by 25.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock worth $72,360,000 after buying an additional 219,351 shares during the period. Brown Advisory Inc. boosted its stake in Bancorp by 8.5% in the 4th quarter. Brown Advisory Inc. now owns 905,876 shares of the bank’s stock worth $61,165,000 after buying an additional 71,299 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Bancorp by 273.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after buying an additional 455,265 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Bancorp by 43.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 507,691 shares of the bank’s stock valued at $34,279,000 after buying an additional 154,539 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bancorp Price Performance

TBBK opened at $62.64 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 52-week low of $50.20 and a 52-week high of $81.65. The company has a 50 day moving average of $56.95 and a two-hundred day moving average of $59.75. The company has a market cap of $2.61 billion, a P/E ratio of 12.19 and a beta of 1.21.

Bancorp (NASDAQ:TBBK) last released 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. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The company had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. On average, analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Insiders Place Their Bets

In other Bancorp news, EVP Erika R. Caesar sold 4,470 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total transaction of $269,451.60. Following the transaction, the executive vice president owned 32,880 shares in the company, valued at $1,982,006.40. The trade was a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Maria Wainwright sold 8,400 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the sale, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at $1,502,506.08. The trade was a 25.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.00% of the stock is currently owned by corporate insiders.

Bancorp Company 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.