Bank of America Corp DE Sells 63,154 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Bank of America Corp DE decreased its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,152 shares of the bank's stock after selling 63,154 shares during the period. Bank of America Corp DE owned 0.37% of Bancorp worth $9,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TBBK. Arete Wealth Advisors LLC lifted its stake in shares of Bancorp by 2.6% during the fourth quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank's stock valued at $508,000 after acquiring an additional 242 shares during the period. Arcus Capital Partners LLC lifted its position in Bancorp by 5.0% during the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank's stock valued at $347,000 after purchasing an additional 315 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Bancorp by 3.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank's stock valued at $635,000 after purchasing an additional 408 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Bancorp by 8.1% in the 4th quarter. Bank of Montreal Can now owns 5,565 shares of the bank's stock valued at $293,000 after purchasing an additional 418 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Bancorp by 12.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,781 shares of the bank's stock worth $199,000 after buying an additional 420 shares during the period. Institutional investors own 96.22% of the company's stock.

Bancorp Trading Up 2.4%

NASDAQ TBBK traded up $1.21 during trading on Tuesday, reaching $52.31. 319,204 shares of the stock traded hands, compared to its average volume of 569,680. The Bancorp, Inc. has a fifty-two week low of $31.34 and a fifty-two week high of $65.84. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 12.17 and a beta of 1.31. The stock's 50-day moving average price is $49.92 and its 200 day moving average price is $53.71.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly 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. Analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analysts Set New Price Targets

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

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.