The Bancorp, Inc. $TBBK Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in The Bancorp, Inc. (NASDAQ:TBBK) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 352,786 shares of the bank’s stock after purchasing an additional 27,058 shares during the period. Principal Financial Group Inc.’s holdings in Bancorp were worth $18,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Bancorp by 98.2% in the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock valued at $4,052,000 after acquiring an additional 37,993 shares during the last quarter. AQR Capital Management LLC increased its stake in Bancorp by 15.9% during the first quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after acquiring an additional 2,296 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Bancorp by 1.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock worth $1,436,000 after acquiring an additional 518 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Bancorp by 6.1% in the first 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 purchasing an additional 8,454 shares during the period. Finally, Jane Street Group LLC raised its position in Bancorp by 145.8% in the first quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock valued at $6,773,000 after purchasing an additional 76,027 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Stock Down 0.9%

Shares of NASDAQ TBBK opened at $66.48 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $59.38 and its two-hundred day moving average is $59.44. The Bancorp, Inc. has a 52-week low of $50.20 and a 52-week high of $81.65. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 12.93 and a beta of 1.19.

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

Analyst Ratings Changes

TBBK has been the topic of several recent analyst reports. Bank of America reaffirmed a “buy” rating on shares of Bancorp in a research note on Monday. Weiss Ratings raised Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Keefe, Bruyette & Woods raised shares of Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $72.00 to $77.00 in a research report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.40.

Insider Buying and Selling at Bancorp

In related news, CMO Maria Wainwright sold 8,400 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the transaction, the chief marketing officer 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.28, for a total value of $269,451.60. Following the transaction, the executive vice president directly owned 32,880 shares in the company, valued at approximately $1,982,006.40. The trade was a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.00% of the stock is currently owned by insiders.

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.