Exane Derivatives reduced its position in shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,286 shares of the bank's stock after selling 530 shares during the quarter. Exane Derivatives' holdings in Bancorp were worth $84,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Squarepoint Ops LLC bought a new position in shares of Bancorp during the 4th quarter valued at approximately $1,144,000. Barclays PLC grew its stake in shares of Bancorp by 23.7% during the 4th quarter. Barclays PLC now owns 145,338 shares of the bank's stock valued at $3,678,000 after acquiring an additional 27,838 shares during the period. Essex Investment Management Co. LLC grew its stake in shares of Bancorp by 4.8% during the 1st quarter. Essex Investment Management Co. LLC now owns 102,411 shares of the bank's stock valued at $2,901,000 after acquiring an additional 4,726 shares during the period. Elgethun Capital Management grew its stake in shares of Bancorp by 1.9% during the 1st quarter. Elgethun Capital Management now owns 165,814 shares of the bank's stock valued at $4,698,000 after acquiring an additional 3,069 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Bancorp by 6.2% during the 1st 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 period. 90.95% of the stock is currently owned by institutional investors.
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Bancorp Stock Performance
NASDAQ:TBBK opened at $23.79 on Wednesday. The stock's fifty day moving average is $23.69 and its 200 day moving average is $23.15. The Bancorp, Inc. has a fifty-two week low of $16.59 and a fifty-two week high of $33.36. The firm has a market capitalization of $1.35 billion, a PE ratio of 12.08 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 0.97.
Bancorp (NASDAQ:TBBK – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Bancorp had a return on equity of 17.63% and a net
margin of 34.36%. During the same quarter last year, the firm posted $0.49 EPS. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 2.28 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Piper Sandler dropped their price target on Bancorp from $36.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, July 11th. TheStreet downgraded Bancorp from a "b" rating to a "c+" rating in a research note on Monday, September 12th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $36.33.
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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