Comerica Bank Sells 7,650 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Comerica Bank decreased its position in The Bancorp, Inc. (NASDAQ:TBBKGet Rating) by 12.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 52,624 shares of the bank’s stock after selling 7,650 shares during the period. Comerica Bank’s holdings in Bancorp were worth $1,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Congress Asset Management Co. MA grew its holdings in shares of Bancorp by 0.7% in the second quarter. Congress Asset Management Co. MA now owns 199,016 shares of the bank’s stock worth $3,885,000 after purchasing an additional 1,316 shares during the last quarter. Acuitas Investments LLC grew its holdings in shares of Bancorp by 122.7% in the second quarter. Acuitas Investments LLC now owns 209,604 shares of the bank’s stock worth $4,091,000 after purchasing an additional 115,466 shares during the last quarter. John W. Rosenthal Capital Management Inc. purchased a new stake in Bancorp in the third quarter worth $7,294,000. Sheets Smith Investment Management lifted its stake in Bancorp by 26.7% in the second quarter. Sheets Smith Investment Management now owns 49,609 shares of the bank’s stock worth $1,216,000 after acquiring an additional 10,449 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Bancorp by 36.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 60,727 shares of the bank’s stock worth $1,185,000 after acquiring an additional 16,100 shares during the period. Institutional investors own 90.02% of the company’s stock.

Bancorp Stock Performance

Shares of Bancorp stock opened at $28.95 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.62 billion, a P/E ratio of 14.26 and a beta of 1.45. The business has a fifty day simple moving average of $29.26 and a two-hundred day simple moving average of $26.03. The Bancorp, Inc. has a 12 month low of $16.59 and a 12 month high of $31.59.

Bancorp (NASDAQ:TBBKGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.05). The firm had revenue of $88.09 million for the quarter, compared to analysts’ expectations of $88.45 million. Bancorp had a net margin of 32.42% and a return on equity of 17.83%. On average, equities analysts forecast that The Bancorp, Inc. will post 2.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Bancorp

In other news, Director Matthew Cohn acquired 18,040 shares of the stock in a transaction on Tuesday, November 1st. The stock was acquired at an average price of $28.00 per share, with a total value of $505,120.00. Following the completion of the transaction, the director now owns 39,798 shares of the company’s stock, valued at approximately $1,114,344. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.30% of the company’s stock.

Bancorp Profile

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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.

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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