Principal Financial Group Inc. Sells 44,656 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Principal Financial Group Inc. reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBKGet Rating) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 952,383 shares of the bank’s stock after selling 44,656 shares during the quarter. Principal Financial Group Inc.’s holdings in Bancorp were worth $18,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Comerica Bank increased its position in Bancorp by 0.8% during the first quarter. Comerica Bank now owns 62,739 shares of the bank’s stock valued at $1,648,000 after acquiring an additional 520 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Bancorp by 4,801.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 10,292 shares of the bank’s stock valued at $292,000 after acquiring an additional 10,082 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Bancorp by 6.2% during the first quarter. Mutual of America Capital Management LLC now owns 8,267 shares of the bank’s stock valued at $234,000 after acquiring an additional 482 shares during the last quarter. Shell Asset Management Co. increased its position in Bancorp by 41.8% during the first quarter. Shell Asset Management Co. now owns 10,276 shares of the bank’s stock valued at $291,000 after acquiring an additional 3,027 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Bancorp by 33.1% during the first quarter. Victory Capital Management Inc. now owns 21,809 shares of the bank’s stock valued at $495,000 after acquiring an additional 5,424 shares during the last quarter. 90.95% of the stock is owned by institutional investors.

Bancorp Stock Performance

Shares of TBBK opened at $30.38 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.99 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $25.72 and a two-hundred day simple moving average of $22.99. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 14.97 and a beta of 1.47. The Bancorp, Inc. has a 52 week low of $16.59 and a 52 week high of $32.69.

Insiders Place Their Bets

In related news, Director Matthew Cohn purchased 18,040 shares of Bancorp stock in a transaction on Tuesday, November 1st. The stock was acquired at an average price of $28.00 per share, for a total transaction of $505,120.00. Following the completion of the transaction, the director now directly owns 39,798 shares in the company, valued at approximately $1,114,344. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of a number of research reports. Piper Sandler upped their price objective on Bancorp to $32.00 in a research report on Tuesday, November 1st. TheStreet upgraded Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, November 15th. Finally, StockNews.com assumed coverage on Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Bancorp Profile

(Get Rating)

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, and commercial accounts; and prepaid and debit cards.

Further Reading

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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