Bancorp (NASDAQ:TBBK) Stock Price Down 4.4% - Here's Why

Shares of The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) traded down 4.4% on Thursday . The company traded as low as $51.36 and last traded at $51.36. 36,571 shares traded hands during trading, a decline of 94% from the average session volume of 568,930 shares. The stock had previously closed at $53.73.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TBBK shares. Keefe, Bruyette & Woods cut shares of Bancorp from an "outperform" rating to a "market perform" rating and cut their target price for the company from $70.00 to $65.00 in a research note on Thursday. Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Bancorp Price Performance

The company has a market capitalization of $2.39 billion, a P/E ratio of 11.91 and a beta of 1.24. The business's fifty day moving average price is $49.83 and its 200-day moving average price is $53.32. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $175.39 million for the quarter, compared to the consensus estimate of $108.88 million. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. As a group, sell-side analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Bancorp in the first quarter valued at approximately $39,000. Smartleaf Asset Management LLC increased its holdings in Bancorp by 191.8% in the fourth 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. Brooklyn Investment Group purchased a new position in shares of Bancorp during the 1st quarter worth approximately $58,000. GAMMA Investing LLC grew its stake in shares of Bancorp by 45.2% during the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after buying an additional 456 shares during the period. Finally, Parkside Financial Bank & Trust lifted 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 valued at $79,000 after acquiring an additional 424 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

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.