Persistent Asset Partners Ltd Acquires 18,440 Shares of The Bancorp, Inc. $TBBK

Persistent Asset Partners Ltd raised its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 270.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,259 shares of the bank’s stock after buying an additional 18,440 shares during the period. Bancorp comprises about 0.8% of Persistent Asset Partners Ltd’s holdings, making the stock its 27th largest position. Persistent Asset Partners Ltd owned approximately 0.06% of Bancorp worth $1,705,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Arete Wealth Advisors LLC lifted its stake in shares of Bancorp by 2.0% in the third quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank’s stock valued at $715,000 after buying an additional 191 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Bancorp by 3.7% in the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after buying an additional 197 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of Bancorp by 213.6% in the third quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after buying an additional 235 shares in the last quarter. California State Teachers Retirement System lifted its stake 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 valued at $2,446,000 after buying an additional 253 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of 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 purchasing an additional 309 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings lowered shares of Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Piper Sandler assumed coverage on shares of Bancorp in a research report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bancorp Stock Down 0.1%

TBBK opened at $55.99 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88. The company’s 50-day moving average is $56.85 and its 200 day moving average is $60.21. The Bancorp, Inc. has a fifty-two week low of $49.66 and a fifty-two week high of $81.65. The firm has a market capitalization of $2.33 billion, a P/E ratio of 10.89 and a beta of 1.21.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The company had revenue of $132.50 million for the quarter, compared to analyst estimates of $189.17 million. Research analysts expect that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

Insider Activity

In other Bancorp news, CMO Maria Wainwright sold 8,400 shares of Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the sale, the chief marketing officer owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Erika R. Caesar sold 4,470 shares of Bancorp stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the sale, the executive vice president directly owned 32,880 shares in the company, valued at approximately $1,982,006.40. This represents a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.00% of the company’s stock.

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.