Principal Financial Group Inc. Buys 8,486 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Principal Financial Group Inc. boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 313,095 shares of the bank's stock after buying an additional 8,486 shares during the period. Principal Financial Group Inc. owned approximately 0.65% of Bancorp worth $16,544,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its stake in Bancorp by 2.0% in the 4th quarter. FMR LLC now owns 4,306,715 shares of the bank's stock valued at $226,662,000 after purchasing an additional 85,908 shares during the last quarter. American Century Companies Inc. grew its holdings in Bancorp by 35.9% in the fourth quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank's stock worth $125,971,000 after purchasing an additional 631,744 shares during the period. Invesco Ltd. grew its holdings in Bancorp by 26.2% in the fourth 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. Janus Henderson Group PLC lifted its stake in shares of Bancorp by 3.6% in the fourth quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock valued at $51,783,000 after buying an additional 33,943 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Stock Up 0.8%

Shares of NASDAQ:TBBK traded up $0.49 during midday trading on Friday, reaching $63.08. The company's stock had a trading volume of 397,728 shares, compared to its average volume of 569,559. The firm has a market capitalization of $2.95 billion, a P/E ratio of 14.24 and a beta of 1.25. The firm has a 50 day moving average of $53.97 and a 200-day moving average of $53.35. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $65.84. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.15.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (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. On average, research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analyst Weigh In

TBBK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $65.00 price target on shares of Bancorp in a research report on Friday. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. Barclays reaffirmed a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Jefferies Financial Group upgraded shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Finally, Wall Street Zen lowered 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 given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $65.33.

About Bancorp

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.