Legato Capital Management LLC Buys Shares of 18,250 The Bancorp, Inc. $TBBK

Legato Capital Management LLC bought a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,250 shares of the bank’s stock, valued at approximately $1,367,000.

Several other large investors have also modified their holdings of TBBK. Royal Bank of Canada lifted its stake in shares of Bancorp by 98.2% during the 1st quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock worth $4,052,000 after purchasing an additional 37,993 shares during the period. AQR Capital Management LLC lifted its holdings in Bancorp by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after buying an additional 2,296 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bancorp by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock valued at $1,436,000 after buying an additional 518 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bancorp by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock valued at $7,795,000 after acquiring an additional 8,454 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Bancorp by 145.8% in the first quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock worth $6,773,000 after purchasing an additional 76,027 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Mark E. Tryniski acquired 5,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were bought at an average cost of $60.23 per share, for a total transaction of $301,150.00. Following the completion of the acquisition, the director directly owned 18,966 shares of the company’s stock, valued at approximately $1,142,322.18. This trade represents a 35.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Cohn acquired 680 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $62.14 per share, with a total value of $42,255.20. Following 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. The disclosure for this purchase is available in the SEC filing. Insiders have bought 9,080 shares of company stock valued at $548,933 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have 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. Wolfe Research set a $57.00 price target on Bancorp in a research report on Monday, February 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research note on Tuesday, January 13th. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price target on shares of Bancorp in a report on Wednesday, January 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.20.

Bancorp Stock Up 0.9%

NASDAQ TBBK opened at $54.64 on Wednesday. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The firm has a market cap of $2.31 billion, a PE ratio of 11.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $64.04 and its 200 day simple moving average is $68.62.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). Bancorp had a net margin of 25.94% and a return on equity of 28.91%. The company had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. As a group, sell-side analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

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.