Sequoia Financial Advisors LLC acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,810 shares of the bank's stock, valued at approximately $518,000.
Several other large investors have also recently added to or reduced their stakes in the stock. Yorktown Management & Research Co Inc acquired a new position in Bancorp in the 1st quarter worth about $227,000. Janney Montgomery Scott LLC grew its stake in shares of Bancorp by 15.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,225 shares of the bank's stock valued at $329,000 after buying an additional 822 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Bancorp by 1.2% in the 1st quarter. SummerHaven Investment Management LLC now owns 19,246 shares of the bank's stock valued at $1,017,000 after buying an additional 236 shares in the last quarter. SG Americas Securities LLC acquired a new position in Bancorp in the first quarter worth approximately $778,000. Finally, GAMMA Investing LLC raised its position in Bancorp by 45.2% during the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after acquiring an additional 456 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.
Wall Street Analysts Forecast Growth
TBBK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut shares of Bancorp from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $70.00 to $65.00 in a research note on Thursday, June 12th. Wall Street Zen lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.
Get Our Latest Stock Analysis on TBBK
Bancorp Stock Up 1.1%
Shares of NASDAQ TBBK traded up $0.65 during mid-day trading on Thursday, reaching $58.86. 421,899 shares of the company traded hands, compared to its average volume of 566,642. The company's fifty day moving average is $52.31 and its two-hundred day moving average is $53.00. 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 Bancorp, Inc. has a fifty-two week low of $37.65 and a fifty-two week high of $65.84. The stock has a market cap of $2.75 billion, a PE ratio of 13.29 and a beta of 1.25.
Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $1.19 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 analyst estimates of $108.88 million. On average, analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.
Bancorp Company Profile
(
Free Report)
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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