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

Persistent Asset Partners Ltd boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 270.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,259 shares of the bank’s stock after purchasing an additional 18,440 shares during the period. Bancorp makes up 0.8% of Persistent Asset Partners Ltd’s portfolio, making the stock its 27th largest position. Persistent Asset Partners Ltd’s holdings in Bancorp were worth $1,705,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TBBK. Arete Wealth Advisors LLC raised its position 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 purchasing an additional 191 shares during the period. Osaic Holdings Inc. raised its position 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 purchasing an additional 197 shares during the period. Rothschild Investment LLC raised its position 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 during the period. California State Teachers Retirement System raised its position 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 purchasing an additional 253 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Bancorp by 1.1% in 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 during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Bancorp

In related news, EVP Erika R. Caesar sold 4,470 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the transaction, the executive vice president owned 32,880 shares of the company’s stock, valued at approximately $1,982,006.40. The trade was a 11.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the transaction, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. This represents a 25.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.00% of the stock is currently owned by insiders.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $55.99 on Wednesday. The company has a 50 day moving average of $56.85 and a 200 day moving average of $60.21. The stock has a market cap of $2.33 billion, a P/E ratio of 10.89 and a beta of 1.21. The Bancorp, Inc. has a 12 month low of $49.66 and a 12 month high of $81.65. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. The company had revenue of $132.50 million during the quarter, compared to analysts’ expectations of $189.17 million. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. As a group, sell-side analysts forecast that The Bancorp, Inc. will post 5.95 EPS for the current fiscal year.

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.