Bank of New York Mellon Corp Decreases Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Bank of New York Mellon Corp decreased its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,368 shares of the bank's stock after selling 13,722 shares during the period. Bank of New York Mellon Corp owned 0.65% of Bancorp worth $16,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after acquiring an additional 456 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Bancorp in the 4th quarter valued at about $139,000. Ethic Inc. acquired a new position in shares of Bancorp in the 4th quarter valued at about $209,000. Wedbush Securities Inc. acquired a new position in Bancorp in the 4th quarter worth about $213,000. Finally, Yorktown Management & Research Co Inc acquired a new position in Bancorp in the 1st quarter worth about $227,000. 96.22% of the stock is owned by institutional investors.

Bancorp Stock Performance

TBBK stock traded down $1.33 during trading on Friday, reaching $67.62. 740,472 shares of the stock were exchanged, compared to its average volume of 567,229. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month high of $69.88. The company has a market capitalization of $3.16 billion, a P/E ratio of 15.26 and a beta of 1.25. The stock has a 50 day simple moving average of $55.53 and a 200-day simple moving average of $53.83. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). Bancorp had a net margin of 28.45% and a return on equity of 27.31%. The company had revenue of $175.39 million for the quarter, compared to the consensus estimate of $108.88 million. As a group, sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

TBBK has been the subject of a number of analyst reports. Oppenheimer restated an "outperform" rating on shares of Bancorp in a research report on Friday. Raymond James Financial upgraded Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Jefferies Financial Group raised Bancorp to a "buy" rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research report on Friday. Finally, Barclays reissued a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.00.

Bancorp 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.