Kestra Private Wealth Services LLC Purchases New Shares in The Bancorp, Inc. (NASDAQ:TBBK)

Key Points

• Kestra Private Wealth Services LLC acquired 8,256 shares of The Bancorp, Inc., valued at approximately $436,000, during the first quarter.
• Several institutional investors have significantly increased their stakes in Bancorp, with Balyasny Asset Management raising its position by 599.8% in the fourth quarter.
• The Bancorp reported a quarterly EPS of $1.27, exceeding analysts' expectations, and has a consensus price target of $62.00 based on various ratings from analysts.

Kestra Private Wealth Services LLC purchased a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,256 shares of the bank's stock, valued at approximately $436,000.

A number of other large investors have also made changes to their positions in TBBK. Invesco Ltd. boosted its position in Bancorp by 26.2% during the 4th quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock worth $118,251,000 after purchasing an additional 466,795 shares during the period. Nantahala Capital Management LLC lifted its stake in Bancorp by 65.7% in the fourth quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock valued at $51,286,000 after buying an additional 386,295 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Bancorp by 599.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank's stock valued at $19,390,000 after acquiring an additional 315,772 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bancorp by 70.3% during the 4th quarter. JPMorgan Chase & Co. now owns 653,444 shares of the bank's stock worth $34,391,000 after buying an additional 269,660 shares in the last quarter. Finally, Emerald Advisers LLC boosted its stake in Bancorp by 63.1% during the first quarter. Emerald Advisers LLC now owns 548,269 shares of the bank's stock valued at $28,971,000 after buying an additional 212,102 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company's stock.

Bancorp Stock Performance

Shares of Bancorp stock opened at $63.67 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.97 billion, a P/E ratio of 13.69 and a beta of 1.25. The business's fifty day simple moving average is $56.93 and its 200 day simple moving average is $54.37. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $70.63.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.01. Bancorp had a return on equity of 27.65% and a net margin of 28.45%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 million. As a group, analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TBBK. Barclays restated a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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.

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