GAMMA Investing LLC Purchases 76,402 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

GAMMA Investing LLC increased its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 7,572.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,411 shares of the bank's stock after purchasing an additional 76,402 shares during the period. GAMMA Investing LLC owned approximately 0.16% of Bancorp worth $4,090,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Bancorp by 3.3% in the 4th 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 period. Raymond James Financial Inc. bought a new stake in Bancorp in the fourth quarter valued at $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 valued at $638,000 after acquiring an additional 5,845 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 489 shares in the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of Bancorp during the fourth quarter valued at $17,692,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TBBK shares. Keefe, Bruyette & Woods lowered shares of Bancorp from an "outperform" rating to a "market perform" rating and set a $65.00 target price on the stock. in a report on Thursday. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Bancorp Price Performance

TBBK stock traded down $2.74 during midday trading on Thursday, reaching $50.99. 162,714 shares of the company's stock traded hands, compared to its average volume of 569,463. The company has a 50-day simple moving average of $49.62 and a two-hundred day simple moving average of $53.38. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a 1-year low of $32.50 and a 1-year high of $65.84. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 11.86 and a beta of 1.24.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results 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 30.97% and a return on equity of 27.33%. The business had revenue of $175.39 million during the quarter, compared to analyst estimates of $108.88 million. On average, analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current 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.