SG Americas Securities LLC Purchases New Position in The Bancorp, Inc. (NASDAQ:TBBK)

SG Americas Securities LLC acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,725 shares of the bank's stock, valued at approximately $778,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Bancorp by 7,572.1% in the 1st 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 during the last quarter. Principal Financial Group Inc. lifted its stake in Bancorp by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank's stock valued at $16,032,000 after purchasing an additional 9,748 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Bancorp during the fourth quarter worth approximately $3,474,000. Sanctuary Advisors LLC grew its position in Bancorp by 111.9% in the fourth quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank's stock worth $638,000 after buying an additional 5,845 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock valued at $40,000 after buying an additional 489 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 recent research reports. Keefe, Bruyette & Woods downgraded Bancorp from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $70.00 to $65.00 in a research report on Thursday, June 12th. Wall Street Zen downgraded Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Bancorp Trading Up 0.7%

Shares of Bancorp stock traded up $0.37 during trading on Friday, hitting $51.07. The stock had a trading volume of 593,959 shares, compared to its average volume of 572,987. The Bancorp, Inc. has a 1 year low of $33.77 and a 1 year high of $65.84. The stock has a 50 day simple moving average of $50.45 and a 200 day simple moving average of $53.04. 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 company has a market capitalization of $2.39 billion, a PE ratio of 11.53 and a beta of 1.24.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted 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 firm had revenue of $175.39 million for the quarter, compared to analysts' expectations of $108.88 million. On average, research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

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.