Balyasny Asset Management L.P. Purchases 315,772 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Balyasny Asset Management L.P. boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 599.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368,416 shares of the bank's stock after purchasing an additional 315,772 shares during the quarter. Balyasny Asset Management L.P. owned about 0.77% of Bancorp worth $19,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock valued at $40,000 after buying an additional 489 shares in the last quarter. R Squared Ltd bought a new stake in Bancorp during the fourth quarter worth $45,000. Parkside Financial Bank & Trust raised its holdings in shares of Bancorp by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after buying an additional 424 shares in the last quarter. KBC Group NV lifted its position in shares of Bancorp by 40.9% during the 4th quarter. KBC Group NV now owns 2,137 shares of the bank's stock worth $112,000 after buying an additional 620 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Bancorp in the fourth quarter valued at about $139,000. Institutional investors own 96.22% of the company's stock.

Bancorp Trading Down 1.4 %

TBBK stock traded down $0.73 during trading on Friday, hitting $51.44. The company had a trading volume of 248,245 shares, compared to its average volume of 575,349. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a one year low of $31.34 and a one year high of $65.84. The business has a 50-day moving average of $49.54 and a 200-day moving average of $53.53. The stock has a market cap of $2.47 billion, a PE ratio of 11.96 and a beta of 1.31.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). Bancorp had a return on equity of 27.33% and a net margin of 30.97%. The firm had revenue of $175.39 million for the quarter, compared to the consensus estimate of $108.88 million. Research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

TBBK has been the topic of a number of research analyst reports. Raymond James restated an "outperform" rating and issued a $67.00 price target (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. StockNews.com cut Bancorp from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their target price on Bancorp from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Monday, April 28th.

Bancorp Company Profile

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.