The Bancorp, Inc. (NASDAQ:TBBK) Shares Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 20.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,794 shares of the bank’s stock after buying an additional 1,812 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Bancorp were worth $577,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TBBK. Nantahala Capital Management LLC acquired a new stake in Bancorp in the second quarter valued at approximately $12,757,000. Lisanti Capital Growth LLC purchased a new position in shares of Bancorp in the third quarter valued at $6,100,000. Marshall Wace LLP grew its holdings in Bancorp by 39.8% during the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after purchasing an additional 96,072 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after buying an additional 70,768 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after buying an additional 70,361 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total value of $508,609.60. Following the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This trade represents a 11.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last ninety days. 5.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TBBK shares. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, Piper Sandler increased their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

Bancorp Stock Performance

Shares of TBBK stock opened at $60.36 on Tuesday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 15.24 and a beta of 1.46. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $61.17. The company’s 50-day simple moving average is $53.70 and its 200-day simple moving average is $46.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same period in the prior year, the business earned $0.92 EPS. Equities analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.