Phocas Financial Corp. Sells 195,912 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Phocas Financial Corp. cut its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 69.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,149 shares of the bank’s stock after selling 195,912 shares during the period. Phocas Financial Corp. owned approximately 0.16% of Bancorp worth $3,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC bought a new position in Bancorp during the third quarter worth about $34,000. Advisor Group Holdings Inc. lifted its holdings in shares of Bancorp by 325.8% in the first quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after purchasing an additional 935 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Bancorp in the second quarter valued at about $45,000. Federated Hermes Inc. lifted its holdings in shares of Bancorp by 28.1% in the third quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Bancorp in the fourth quarter valued at about $56,000. 96.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on TBBK shares. Keefe, Bruyette & Woods cut their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 5th. Raymond James lifted their target price on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Piper Sandler lifted their target price on Bancorp from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, December 21st.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $31.48 on Monday. The business’s 50 day moving average price is $38.01 and its two-hundred day moving average price is $38.08. The company has a market cap of $1.64 billion, a PE ratio of 8.99 and a beta of 1.45. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a twelve month low of $25.97 and a twelve month high of $47.11.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The firm had revenue of $119.15 million for the quarter, compared to the consensus estimate of $118.52 million. On average, analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current year.

Insider Transactions at Bancorp

In other news, Director Stephanie B. Mudick acquired 2,000 shares of Bancorp stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the acquisition, the director now directly owns 31,584 shares in the company, valued at approximately $1,172,082.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Stephanie B. Mudick purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the purchase, the director now owns 31,584 shares in the company, valued at approximately $1,172,082.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Cohn purchased 2,485 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $34.21 per share, with a total value of $85,011.85. Following the completion of the purchase, the director now owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. Insiders bought a total of 7,800 shares of company stock worth $308,838 over the last quarter. Company insiders own 4.30% of the company’s stock.

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.