Meritage Portfolio Management Raises Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Meritage Portfolio Management grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,684 shares of the bank’s stock after purchasing an additional 654 shares during the period. Meritage Portfolio Management’s holdings in Bancorp were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TBBK. Carmel Capital Partners LLC purchased a new stake in shares of Bancorp during the 3rd quarter worth $34,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Bancorp during the 3rd quarter worth $88,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Bancorp during the 3rd quarter worth $103,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Bancorp during the 3rd quarter worth $157,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Bancorp during the 3rd quarter worth $183,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Price Performance

TBBK stock traded down $2.23 during trading on Friday, hitting $31.18. The stock had a trading volume of 929,050 shares, compared to its average volume of 635,712. The company’s 50 day moving average price is $36.28 and its two-hundred day moving average price is $37.98. The Bancorp, Inc. has a 1-year low of $26.97 and a 1-year high of $47.11. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 8.91 and a beta of 1.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.01.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. The firm had revenue of $119.15 million during the quarter, compared to the consensus estimate of $118.52 million. On average, sell-side analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephanie B. Mudick acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $37.11 per share, with a total value of $74,220.00. Following the purchase, the director now directly owns 31,584 shares in the company, valued at approximately $1,172,082.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Stephanie B. Mudick acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $37.11 per share, with a total value of $74,220.00. Following the purchase, the director now directly owns 31,584 shares in the company, valued at approximately $1,172,082.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Cohn acquired 2,485 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $34.21 per share, with a total value of $85,011.85. Following the purchase, the director now owns 157,627 shares in the company, valued at $5,392,419.67. The disclosure for this purchase can be found here. Insiders purchased a total of 7,800 shares of company stock valued at $308,838 in the last 90 days. 5.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Raymond James lifted their price target on Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods cut their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, April 5th.

Bancorp Profile

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.