Allspring Global Investments Holdings LLC Purchases 5,872 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Allspring Global Investments Holdings LLC raised its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 54.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 16,752 shares of the bank's stock after acquiring an additional 5,872 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Bancorp were worth $897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its position in shares of Bancorp by 191.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after buying an additional 489 shares during the period. Jones Financial Companies Lllp increased its position in shares of Bancorp by 75.0% during the fourth quarter. Jones Financial Companies Lllp now owns 6,934 shares of the bank's stock worth $365,000 after buying an additional 2,971 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Bancorp during the fourth quarter worth $651,000. Raymond James Financial Inc. acquired a new stake in shares of Bancorp during the fourth quarter worth $3,474,000. Finally, Amundi increased its position in shares of Bancorp by 180.7% during the fourth quarter. Amundi now owns 24,195 shares of the bank's stock worth $1,256,000 after buying an additional 15,576 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TBBK has been the subject of several recent analyst reports. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a research note on Monday. Barclays reissued a "buy" rating on shares of Bancorp in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered shares of Bancorp from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $70.00 to $65.00 in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.33.

Bancorp Stock Up 2.3%

NASDAQ TBBK traded up $1.40 on Thursday, hitting $62.97. 80,663 shares of the company were exchanged, compared to its average volume of 569,403. The company has a market cap of $2.94 billion, a PE ratio of 14.17 and a beta of 1.25. The Bancorp, Inc. has a 12 month low of $39.47 and a 12 month high of $65.84. The stock has a fifty day moving average of $53.49 and a 200-day moving average of $53.22. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). Bancorp had a net margin of 28.45% and a return on equity of 27.31%. The business had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. As a group, analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

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.