Intech Investment Management LLC Has $2.83 Million Position in The Bancorp, Inc. $TBBK

Intech Investment Management LLC grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 86.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,821 shares of the bank’s stock after acquiring an additional 17,495 shares during the period. Intech Investment Management LLC owned 0.08% of Bancorp worth $2,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund raised its stake in shares of Bancorp by 735.0% during the 3rd quarter. New York State Common Retirement Fund now owns 139,489 shares of the bank’s stock worth $10,446,000 after purchasing an additional 122,784 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Bancorp in the third quarter worth approximately $7,351,000. Public Sector Pension Investment Board increased its holdings in Bancorp by 12.8% in the third quarter. Public Sector Pension Investment Board now owns 179,654 shares of the bank’s stock worth $13,454,000 after buying an additional 20,413 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Bancorp by 284.9% during the third quarter. Envestnet Asset Management Inc. now owns 41,996 shares of the bank’s stock valued at $3,145,000 after acquiring an additional 31,085 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in Bancorp in the third quarter valued at approximately $657,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

NASDAQ:TBBK opened at $54.13 on Tuesday. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65. The firm’s fifty day simple moving average is $64.36 and its 200 day simple moving average is $68.70. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.28 billion, a PE ratio of 11.00 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last released its quarterly 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 firm had revenue of $132.21 million for the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a net margin of 25.94% and a return on equity of 28.91%. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

Insider Activity at Bancorp

In other Bancorp news, Director Mark E. Tryniski bought 5,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were purchased at an average price of $60.23 per share, with a total value of $301,150.00. Following the acquisition, the director directly owned 18,966 shares of the company’s stock, valued at $1,142,322.18. This represents a 35.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Cohn purchased 680 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was acquired at an average cost of $62.14 per share, for a total transaction of $42,255.20. Following the completion of the transaction, the director owned 3,655 shares in the company, valued at approximately $227,121.70. This trade represents a 22.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 9,080 shares of company stock worth $548,933 in the last 90 days. 5.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on TBBK shares. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Bancorp in a research note on Monday, February 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. Wolfe Research set a $57.00 target price on Bancorp in a report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $58.20.

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.