Panagora Asset Management Inc. trimmed its position in The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 348,081 shares of the bank's stock after selling 22,176 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.61% of Bancorp worth $9,861,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P increased its holdings in shares of Bancorp by 0.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,953,925 shares of the bank's stock valued at $49,454,000 after acquiring an additional 10,500 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Bancorp by 0.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,702,008 shares of the bank's stock worth $43,078,000 after buying an additional 8,307 shares during the last quarter. American Century Companies Inc. grew its stake in Bancorp by 64.0% during the 1st quarter. American Century Companies Inc. now owns 1,639,672 shares of the bank's stock worth $46,452,000 after buying an additional 640,068 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Bancorp by 1,656.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,419,811 shares of the bank's stock worth $35,935,000 after buying an additional 1,338,982 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in Bancorp by 31.2% during the 1st quarter. Brown Advisory Inc. now owns 1,004,526 shares of the bank's stock worth $28,421,000 after buying an additional 238,976 shares during the last quarter. 90.95% of the stock is currently owned by institutional investors.
Get Bancorp alerts:Bancorp Trading Down 0.3 %
Shares of TBBK stock opened at $23.59 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 0.97. The Bancorp, Inc. has a 1 year low of $16.59 and a 1 year high of $33.36. The stock has a fifty day moving average of $22.68 and a two-hundred day moving average of $23.72. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.97 and a beta of 1.45.
Bancorp (NASDAQ:TBBK – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 earnings per share. As a group, research analysts expect that The Bancorp, Inc. will post 2.28 EPS for the current year.Analysts Set New Price Targets
Separately, Piper Sandler lowered their price objective on Bancorp from $36.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, July 11th.
Bancorp Company 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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