NFJ Investment Group LLC Sells 2,154 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

NFJ Investment Group LLC decreased its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 46,826 shares of the bank’s stock after selling 2,154 shares during the quarter. NFJ Investment Group LLC’s holdings in Bancorp were worth $2,505,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Bancorp by 60.5% during the second 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 period. Blue Trust Inc. raised its stake in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after buying an additional 1,272 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after buying an additional 741 shares during the period. Finally, US Bancorp DE purchased a new position in shares of Bancorp in the 3rd quarter worth $83,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Insiders Place Their Bets

In other Bancorp news, Director Matthew Cohn purchased 545 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average price of $50.11 per share, for a total transaction of $27,309.95. Following the purchase, the director now owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This represents a 0.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the executive vice president now owns 73,114 shares in the company, valued at approximately $3,584,779.42. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,983 shares of company stock worth $1,345,366. Company insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday.

Bancorp Price Performance

Shares of Bancorp stock opened at $56.75 on Wednesday. The stock has a market cap of $2.72 billion, a P/E ratio of 14.33 and a beta of 1.48. 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 stock’s fifty day moving average is $54.53 and its 200 day moving average is $47.23. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $61.17.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data 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 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 last year, the business earned $0.92 EPS. Sell-side analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current year.

About Bancorp

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.