Elgethun Capital Management Has $7.54 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Elgethun Capital Management grew its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,043 shares of the bank’s stock after purchasing an additional 457 shares during the period. Bancorp makes up about 2.3% of Elgethun Capital Management’s holdings, making the stock its 10th biggest position. Elgethun Capital Management owned about 0.42% of Bancorp worth $7,544,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TBBK. Advisor Group Holdings Inc. increased its holdings in shares of Bancorp by 28.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,547 shares of the bank’s stock worth $44,000 after buying an additional 339 shares during the last quarter. Capital Investment Counsel Inc increased its stake in Bancorp by 0.6% in the second quarter. Capital Investment Counsel Inc now owns 59,787 shares of the bank’s stock valued at $1,952,000 after acquiring an additional 350 shares during the last quarter. ProShare Advisors LLC raised its position in Bancorp by 5.6% during the second quarter. ProShare Advisors LLC now owns 8,387 shares of the bank’s stock valued at $274,000 after purchasing an additional 443 shares in the last quarter. Federated Hermes Inc. lifted its stake in Bancorp by 28.1% during the third quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in shares of Bancorp by 1.0% in the 1st quarter. Engineers Gate Manager LP now owns 57,126 shares of the bank’s stock worth $1,618,000 after purchasing an additional 543 shares in the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Trading Down 0.5 %

Bancorp stock traded down $0.20 during trading hours on Tuesday, reaching $39.11. The company had a trading volume of 10,506 shares, compared to its average volume of 358,291. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 11.56 and a beta of 1.55. The Bancorp, Inc. has a 12-month low of $25.13 and a 12-month high of $41.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 0.94. The company has a 50-day moving average price of $35.47 and a 200 day moving average price of $35.03.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 26th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.01). The firm had revenue of $115.66 million during the quarter, compared to analysts’ expectations of $119.02 million. Bancorp had a return on equity of 25.63% and a net margin of 31.49%. Equities analysts forecast that The Bancorp, Inc. will post 3.63 earnings per share for the current year.

Insider Activity

In other Bancorp news, Director Daniela Mielke bought 1,275 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $39.09 per share, with a total value of $49,839.75. Following the completion of the purchase, the director now directly owns 22,105 shares of the company’s stock, valued at $864,084.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Bancorp news, EVP Ryan Harris sold 9,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $36.50, for a total value of $328,500.00. Following the completion of the transaction, the executive vice president now directly owns 109,501 shares in the company, valued at approximately $3,996,786.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniela Mielke bought 1,275 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $39.09 per share, with a total value of $49,839.75. Following the completion of the transaction, the director now owns 22,105 shares in the company, valued at approximately $864,084.45. The disclosure for this purchase can be found here. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. StockNews.com assumed coverage on Bancorp in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Raymond James upped their price objective on shares of Bancorp from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Finally, Piper Sandler lifted their target price on shares of Bancorp from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th.

About Bancorp

The Bancorp, Inc operates as the financial 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, medical savings, money market, individual retirement, and commercial accounts; certificates of deposit; and payroll cards.