Ameriprise Financial Inc. Lowers Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Ameriprise Financial Inc. lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 130,369 shares of the bank's stock after selling 5,988 shares during the period. Ameriprise Financial Inc. owned about 0.27% of Bancorp worth $6,861,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TBBK. Smartleaf Asset Management LLC raised its position in shares of Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after acquiring an additional 489 shares during the period. R Squared Ltd acquired a new position in shares of Bancorp in the fourth quarter worth about $45,000. Parkside Financial Bank & Trust raised its position 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 purchasing an additional 424 shares during the last quarter. KBC Group NV raised 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 purchasing an additional 620 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Bancorp during the 4th quarter worth approximately $139,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Bancorp Price Performance

TBBK stock traded down $0.63 during mid-day trading on Wednesday, reaching $51.69. The company's stock had a trading volume of 20,426 shares, compared to its average volume of 567,531. The stock has a market cap of $2.41 billion, a PE ratio of 11.99 and a beta of 1.31. 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 fifty-two week low of $31.34 and a fifty-two week high of $65.84. The company's 50 day moving average is $49.88 and its two-hundred day moving average is $53.70.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). Bancorp had a net margin of 30.97% and a return on equity of 27.33%. The business had revenue of $175.39 million during the quarter, compared to analyst estimates of $108.88 million. Equities research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analyst Ratings Changes

TBBK has been the subject of several research reports. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Raymond James reiterated an "outperform" rating and set a $67.00 price objective (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Bancorp from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Monday, April 28th.

About Bancorp

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.