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

Brown Advisory Inc. lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 8.6% in the first 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 quarter. Brown Advisory Inc. owned about 3.18% of Bancorp worth $80,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in Bancorp in the first quarter valued at approximately $518,000. Allspring Global Investments Holdings LLC grew its position in Bancorp by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,752 shares of the bank's stock valued at $897,000 after acquiring an additional 5,872 shares in the last quarter. GAMMA Investing LLC grew its position in Bancorp by 7,572.1% in the first quarter. GAMMA Investing LLC now owns 77,411 shares of the bank's stock valued at $4,090,000 after acquiring an additional 76,402 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Bancorp by 15.2% in the first quarter. Janney Montgomery Scott LLC now owns 6,225 shares of the bank's stock valued at $329,000 after acquiring an additional 822 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Bancorp during the 4th quarter valued at approximately $3,474,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Analysts Set New Price Targets

TBBK has been the subject of a number of recent analyst reports. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday. Keefe, Bruyette & Woods downgraded shares of Bancorp from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $70.00 to $65.00 in a report on Thursday, June 12th. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a report on Monday. Barclays reissued a "buy" rating on shares of Bancorp in a report on Monday. Finally, Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.33.

Bancorp Price Performance

NASDAQ TBBK traded up $1.43 on Thursday, reaching $63.00. The company's stock had a trading volume of 128,380 shares, compared to its average volume of 569,588. The Bancorp, Inc. has a twelve month low of $39.47 and a twelve month high of $65.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market cap of $2.94 billion, a PE ratio of 14.23 and a beta of 1.25. The firm's 50 day moving average is $53.49 and its two-hundred day moving average is $53.22.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its 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 net margin of 28.45% and a return on equity of 27.31%. The business had revenue of $175.39 million during the quarter, compared to analyst estimates of $108.88 million. As a group, sell-side analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

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.