The Bancorp, Inc. (NASDAQ:TBBK) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 132.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 383,784 shares of the bank’s stock after acquiring an additional 219,020 shares during the quarter. JPMorgan Chase & Co.’s holdings in Bancorp were worth $20,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TBBK. Blue Trust Inc. increased its stake in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Bancorp in the third quarter worth about $54,000. GAMMA Investing LLC increased its position in shares of Bancorp by 42.4% in the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after acquiring an additional 327 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after acquiring an additional 741 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Bancorp during the third quarter valued at approximately $77,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TBBK has been the topic of several research analyst reports. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. Piper Sandler lifted their price target on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd.

Bancorp Stock Performance

Shares of TBBK opened at $51.91 on Thursday. The company has a market capitalization of $2.49 billion, a PE ratio of 13.11 and a beta of 1.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The company’s 50 day moving average price is $54.88 and its 200 day moving average price is $50.99. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $61.17.

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

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Matthew Cohn acquired 545 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the transaction, the director now owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total transaction of $267,997.98. Following the completion of the sale, the executive vice president now owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,983 shares of company stock worth $1,345,366 over the last 90 days. 5.20% of the stock is currently owned by corporate 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.