First Hawaiian Bank Sells 8,576 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

First Hawaiian Bank lessened its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,751 shares of the bank’s stock after selling 8,576 shares during the quarter. First Hawaiian Bank’s holdings in Bancorp were worth $618,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Bancorp during the third quarter valued at approximately $54,000. GAMMA Investing LLC increased its position in shares of Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock valued at $59,000 after acquiring an additional 327 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after acquiring an additional 741 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Bancorp during the third quarter valued at approximately $77,000. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Bancorp

In related news, EVP Matthew J. Wallace sold 10,160 shares of Bancorp stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.06, for a total transaction of $508,609.60. Following the completion of the sale, the executive vice president now owns 74,798 shares of the company’s stock, valued at approximately $3,744,387.88. This trade represents a 11.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.03, for a total value of $267,997.98. Following the sale, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at $3,584,779.42. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 over the last three months. Company insiders own 5.20% of the company’s stock.

Bancorp Stock Performance

NASDAQ:TBBK opened at $50.30 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The business has a fifty day simple moving average of $54.94 and a two-hundred day simple moving average of $51.00. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $61.17. The company has a market capitalization of $2.41 billion, a P/E ratio of 12.70 and a beta of 1.49.

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

Bancorp Company 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.