Intech Investment Management LLC Buys 17,495 Shares of The Bancorp, Inc. $TBBK

Intech Investment Management LLC grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 86.1% in the third quarter, Holdings Channel reports. The institutional investor owned 37,821 shares of the bank’s stock after purchasing an additional 17,495 shares during the period. Intech Investment Management LLC’s holdings in Bancorp were worth $2,832,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TBBK. US Bancorp DE acquired a new stake in Bancorp during the third quarter worth about $261,000. TD Asset Management Inc bought a new stake in shares of Bancorp in the 3rd quarter worth approximately $7,642,000. Chase Investment Counsel Corp grew its holdings in shares of Bancorp by 9.4% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,780 shares of the bank’s stock worth $1,031,000 after purchasing an additional 1,180 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Bancorp during the third quarter valued at approximately $511,000. Finally, Rothschild Investment LLC raised 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 purchasing an additional 235 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Trading Up 3.1%

Shares of Bancorp stock opened at $54.13 on Tuesday. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65. The stock has a market capitalization of $2.28 billion, a P/E ratio of 11.00 and a beta of 1.31. The company has a 50-day simple moving average of $64.36 and a 200 day simple moving average of $68.70. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 28.91% and a net margin of 25.94%. Research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wolfe Research set a $57.00 price target on shares of Bancorp in a research note on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Finally, Bank of America set a $60.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $58.20.

Insider Buying and Selling

In other Bancorp news, Director Mark E. Tryniski bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were bought at an average price of $60.23 per share, for a total transaction of $301,150.00. Following the completion of the acquisition, the director 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Cohn bought 680 shares of the stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $62.14 per share, with a total value of $42,255.20. Following the completion of the purchase, the director owned 3,655 shares of the company’s stock, valued at $227,121.70. This represents a 22.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 9,080 shares of company stock worth $548,933 in the last three months. Insiders own 5.20% 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.