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

Principal Financial Group Inc. increased its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 313,095 shares of the bank's stock after acquiring an additional 8,486 shares during the quarter. Principal Financial Group Inc. owned about 0.65% of Bancorp worth $16,544,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TBBK. GAMMA Investing LLC grew its holdings in 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 buying an additional 456 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Bancorp in the 4th quarter valued at $139,000. EverSource Wealth Advisors LLC grew its holdings in Bancorp by 12.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,781 shares of the bank's stock valued at $199,000 after buying an additional 420 shares in the last quarter. Ethic Inc. acquired a new position in Bancorp in the 4th quarter valued at $209,000. Finally, Wedbush Securities Inc. acquired a new position in Bancorp in the 4th quarter valued at $213,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of TBBK traded up $2.00 during trading hours on Tuesday, hitting $67.14. 1,273,493 shares of the company were exchanged, compared to its average volume of 573,215. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 15.16 and a beta of 1.25. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $68.94. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average is $53.97 and its 200 day moving average is $53.33.

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 analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James Financial raised Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Barclays reaffirmed a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Jefferies Financial Group raised Bancorp to a "buy" rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $65.00 target price on shares of Bancorp in a report on Friday. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.