Mesirow Financial Investment Management Inc. Lowers Position in The Bancorp, Inc. (NASDAQ:TBBK)

Mesirow Financial Investment Management Inc. trimmed its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,694 shares of the bank’s stock after selling 1,021 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Bancorp were worth $251,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock valued at $1,056,000 after buying an additional 234 shares in the last quarter. Blue Trust Inc. increased its position in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Bancorp by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after purchasing an additional 302 shares during the last quarter. Finally, Legend Financial Advisors Inc. grew its stake in shares of Bancorp by 2.1% in the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock valued at $687,000 after buying an additional 380 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Down 1.6 %

Shares of NASDAQ:TBBK opened at $57.40 on Wednesday. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $59.46. The firm’s 50 day moving average price is $52.59 and its 200 day moving average price is $44.65. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 14.49 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data 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 firm had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 39.22%. During the same period last year, the firm posted $0.92 earnings per share. As a group, equities research analysts predict that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TBBK has been the topic of several research analyst reports. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, Piper Sandler boosted their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

Insider Transactions at Bancorp

In related news, EVP Matthew J. Wallace sold 10,160 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $3,744,387.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Bancorp news, CMO Maria Wainwright sold 11,357 shares of Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the transaction, the chief marketing officer now owns 23,291 shares of the company’s stock, valued at $1,166,413.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew J. Wallace sold 10,160 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 74,798 shares in the company, valued at approximately $3,744,387.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,983 shares of company stock valued at $1,345,366. 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.