Brown Advisory Inc. Sells 143,249 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Brown Advisory Inc. reduced its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,526,595 shares of the bank's stock after selling 143,249 shares during the period. Brown Advisory Inc. owned about 3.18% of Bancorp worth $80,665,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TBBK. Smartleaf Asset Management LLC increased its holdings in shares of Bancorp by 191.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock valued at $40,000 after acquiring an additional 489 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Bancorp by 75.0% during the fourth quarter. Jones Financial Companies Lllp now owns 6,934 shares of the bank's stock worth $365,000 after purchasing an additional 2,971 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Bancorp during the 4th quarter worth approximately $651,000. Raymond James Financial Inc. bought a new stake in Bancorp in the fourth quarter valued at $3,474,000. Finally, Amundi grew its position in Bancorp by 180.7% in the fourth quarter. Amundi now owns 24,195 shares of the bank's stock valued at $1,256,000 after acquiring an additional 15,576 shares during the period. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of TBBK stock traded down $0.88 on Wednesday, hitting $61.57. 399,629 shares of the company's stock were exchanged, compared to its average volume of 570,308. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.88. The Bancorp, Inc. has a 12 month low of $38.51 and a 12 month high of $65.84. The stock has a market cap of $2.88 billion, a P/E ratio of 13.90 and a beta of 1.25. The company has a 50 day moving average of $53.22 and a 200 day moving average of $53.16.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.03). Bancorp had a return on equity of 27.31% and a net margin of 28.45%. The business had revenue of $175.39 million for the quarter, compared to the consensus estimate of $108.88 million. On average, equities research analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TBBK. Keefe, Bruyette & Woods downgraded Bancorp from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $70.00 to $65.00 in a research report on Thursday, June 12th. Raymond James Financial upgraded Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday. Jefferies Financial Group upgraded Bancorp to a "buy" rating in a report on Monday. Wall Street Zen cut Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Barclays restated a "buy" rating on shares of Bancorp in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.33.

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.