Epoch Investment Partners Inc. Trims Stock Position in The Bancorp, Inc. $TBBK

Epoch Investment Partners Inc. lessened its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 92.2% during the first quarter, HoldingsChannel.com reports. The fund owned 14,930 shares of the bank’s stock after selling 176,312 shares during the period. Epoch Investment Partners Inc.’s holdings in Bancorp were worth $802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TBBK. Osaic Holdings Inc. grew its position in shares of Bancorp by 3.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after purchasing an additional 197 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Bancorp by 0.6% in the second quarter. California State Teachers Retirement System now owns 42,929 shares of the bank’s stock worth $2,446,000 after buying an additional 253 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Bancorp by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock worth $368,000 after buying an additional 267 shares in the last quarter. Cerity Partners LLC boosted its stake in Bancorp by 1.1% during the fourth quarter. Cerity Partners LLC now owns 27,518 shares of the bank’s stock valued at $1,858,000 after buying an additional 309 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new stake in Bancorp during the fourth quarter valued at $27,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TBBK. Zacks Research upgraded Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings upgraded Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Keefe, Bruyette & Woods upgraded shares of Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $72.00 to $77.00 in a research report on Thursday, July 9th. Finally, Bank of America reaffirmed a “buy” rating on shares of Bancorp in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.40.

Insider Buying and Selling

In related news, 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of the company’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 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 approximately $1,502,506.08. This represents a 25.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.00% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK stock opened at $66.98 on Monday. 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 business has a 50-day moving average price of $59.86 and a two-hundred day moving average price of $59.40. The Bancorp, Inc. has a 12-month low of $50.20 and a 12-month high of $81.65. The firm has a market cap of $2.79 billion, a P/E ratio of 13.03 and a beta of 1.19.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $132.50 million during 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%. Equities analysts anticipate that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

About Bancorp

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.