Thrivent Financial for Lutherans Sells 24,959 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Thrivent Financial for Lutherans reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 39.4% during the third quarter, Holdings Channel reports. The fund owned 38,447 shares of the bank’s stock after selling 24,959 shares during the period. Thrivent Financial for Lutherans’ holdings in Bancorp were worth $2,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after purchasing an additional 16,482 shares during the last quarter. American Century Companies Inc. lifted its stake in Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after acquiring an additional 70,178 shares during the period. Jupiter Asset Management Ltd. lifted its stake in Bancorp by 11.6% in the second quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after acquiring an additional 46,115 shares during the period. Victory Capital Management Inc. lifted its stake in Bancorp by 7.0% in the second quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock worth $14,775,000 after acquiring an additional 25,731 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in Bancorp in the second quarter worth $12,757,000. 96.22% of the stock is currently owned by institutional investors.

Bancorp Stock Performance

Shares of Bancorp stock opened at $59.05 on Friday. The business has a fifty day simple moving average of $54.14 and a two-hundred day simple moving average of $46.46. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.83 billion, a P/E ratio of 14.91 and a beta of 1.46. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $61.17.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.08). The company had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities analysts forecast that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Monday.

Insider Transactions at Bancorp

In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at approximately $1,166,413.28. The trade was a 32.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now directly owns 73,114 shares in the company, valued at $3,584,779.42. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 in the last quarter. 5.20% of the stock is owned by insiders.

Bancorp Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.