Meritage Portfolio Management Has $489,000 Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Meritage Portfolio Management lifted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 5.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,684 shares of the bank’s stock after purchasing an additional 654 shares during the quarter. Meritage Portfolio Management’s holdings in Bancorp were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TBBK. Epoch Investment Partners Inc. lifted its stake in Bancorp by 80.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock worth $25,032,000 after acquiring an additional 323,986 shares in the last quarter. Moody Aldrich Partners LLC purchased a new stake in Bancorp in the 4th quarter worth about $7,184,000. American Century Companies Inc. lifted its stake in Bancorp by 21.9% in the 3rd quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock worth $33,824,000 after acquiring an additional 175,854 shares in the last quarter. FMR LLC lifted its stake in Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock worth $168,355,000 after acquiring an additional 157,987 shares in the last quarter. Finally, Lisanti Capital Growth LLC lifted its stake in Bancorp by 178.6% in the 3rd quarter. Lisanti Capital Growth LLC now owns 208,925 shares of the bank’s stock worth $7,208,000 after acquiring an additional 133,935 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Insider Activity at Bancorp

In related news, Director Stephanie B. Mudick acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average cost of $37.11 per share, with a total value of $74,220.00. Following the purchase, the director now owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bancorp news, Director Stephanie B. Mudick bought 2,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of $37.11 per share, with a total value of $74,220.00. Following the acquisition, the director now directly owns 31,584 shares of the company’s stock, valued at approximately $1,172,082.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniela Mielke bought 3,315 shares of the stock in a transaction on Wednesday, January 31st. The stock was acquired at an average cost of $45.13 per share, for a total transaction of $149,605.95. Following the acquisition, the director now directly owns 26,715 shares in the company, valued at $1,205,647.95. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 7,800 shares of company stock valued at $308,838. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, April 5th. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Finally, Raymond James raised their price target on Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th.

Bancorp Stock Performance

Shares of TBBK stock traded down $2.23 during trading on Friday, reaching $31.18. The company had a trading volume of 929,050 shares, compared to its average volume of 635,712. The firm’s 50 day simple moving average is $36.28 and its two-hundred day simple moving average is $37.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 0.96. The Bancorp, Inc. has a one year low of $26.97 and a one year high of $47.11. The company has a market capitalization of $1.63 billion, a PE ratio of 8.91 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The business had revenue of $119.15 million for the quarter, compared to the consensus estimate of $118.52 million. Sell-side analysts forecast that The Bancorp, Inc. will post 4.42 earnings per share for the current year.

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.