Penn Capital Management Company LLC Purchases 11,803 Shares of The Bancorp, Inc. $TBBK

Penn Capital Management Company LLC raised its position in The Bancorp, Inc. (NASDAQ:TBBK) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 190,838 shares of the bank’s stock after purchasing an additional 11,803 shares during the period. Penn Capital Management Company LLC owned approximately 0.43% of Bancorp worth $12,900,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Rothschild Investment LLC increased its stake in Bancorp by 213.6% in the third quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after purchasing an additional 235 shares in the last quarter. Bessemer Group Inc. increased its stake in Bancorp by 78.6% in the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after purchasing an additional 176 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Bancorp by 732.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 749 shares of the bank’s stock valued at $56,000 after purchasing an additional 659 shares in the last quarter. IFP Advisors Inc bought a new stake in Bancorp in the third quarter valued at approximately $66,000. Finally, Lazard Asset Management LLC bought a new stake in Bancorp in the second quarter valued at approximately $53,000. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of several recent analyst reports. Piper Sandler initiated coverage on shares of Bancorp in a research note on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a research report on Friday, March 27th. Wolfe Research set a $57.00 price objective on shares of Bancorp in a research report on Monday, February 9th. Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Activity at Bancorp

In related news, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total value of $269,451.60. Following the completion of the transaction, the executive vice president owned 32,880 shares of the company’s stock, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Maria Wainwright sold 8,400 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total transaction of $506,016.00. Following the completion of the transaction, the chief marketing officer directly owned 24,942 shares of the company’s stock, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,370 shares of company stock valued at $1,014,778. Corporate insiders own 6.00% of the company’s stock.

Bancorp Stock Up 1.2%

Shares of TBBK stock opened at $56.01 on Wednesday. The firm has a fifty day moving average of $56.35 and a 200-day moving average of $60.96. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 12-month low of $48.86 and a 12-month high of $81.65. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.90 and a beta of 1.26.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The company had revenue of $132.50 million during the quarter, compared to the consensus estimate of $189.17 million. As a group, equities research analysts predict that The Bancorp, Inc. will post 5.95 earnings per share for the current fiscal year.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.