Paloma Partners Management Co Invests $487,000 in The Bancorp, Inc. (NASDAQ:TBBK)

Paloma Partners Management Co acquired a new position in The Bancorp, Inc. (NASDAQ:TBBK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,100 shares of the bank’s stock, valued at approximately $487,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Bancorp by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after acquiring an additional 70,178 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Bancorp by 11.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock valued at $16,717,000 after acquiring an additional 46,115 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Bancorp by 7.0% in the 2nd quarter. Victory Capital Management Inc. now owns 391,290 shares of the bank’s stock valued at $14,775,000 after acquiring an additional 25,731 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Bancorp in the 2nd quarter valued at about $12,757,000. Finally, Marshall Wace LLP lifted its stake in shares of Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after acquiring an additional 96,072 shares during the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Trading Up 1.8 %

TBBK opened at $57.79 on Thursday. The business has a 50 day simple moving average of $54.66 and a two-hundred day simple moving average of $47.30. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 14.59 and a beta of 1.48. 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 Bancorp, Inc. has a one year low of $29.92 and a one year high of $61.17.

Bancorp (NASDAQ:TBBK) last announced its earnings results 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). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The firm had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same period in the prior year, the company posted $0.92 EPS. Analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday.

Insider Transactions at Bancorp

In other news, EVP Thomas G. Pareigat sold 5,466 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total value of $267,997.98. Following the completion of the transaction, the executive vice president now owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the completion of the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,983 shares of company stock valued at $1,345,366. Corporate insiders own 5.20% of the company’s stock.

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.