Legato Capital Management LLC Raises Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Legato Capital Management LLC boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 65.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,610 shares of the bank's stock after acquiring an additional 4,595 shares during the quarter. Legato Capital Management LLC's holdings in Bancorp were worth $613,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TBBK. GAMMA Investing LLC boosted its holdings in Bancorp by 45.2% in 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 during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Bancorp in the 4th quarter valued at approximately $139,000. Ethic Inc. acquired a new position in shares of Bancorp during the 4th quarter worth approximately $209,000. Wedbush Securities Inc. acquired a new position in shares of Bancorp during the 4th quarter worth approximately $213,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Bancorp during the 1st quarter worth approximately $227,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Down 8.5%

Shares of TBBK stock traded down $5.95 during trading hours on Friday, reaching $63.67. The company had a trading volume of 2,487,527 shares, compared to its average volume of 777,724. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $70.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.88. The business has a fifty day simple moving average of $56.74 and a 200-day simple moving average of $54.28. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 13.69 and a beta of 1.25.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.01. The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $94.87 million. Bancorp had a return on equity of 27.65% and a net margin of 28.45%. On average, research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TBBK has been the subject of several recent research reports. Oppenheimer restated an "outperform" rating on shares of Bancorp in a research note on Friday, July 18th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $65.00 target price on shares of Bancorp in a report on Friday, July 11th. Barclays reissued a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Jefferies Financial Group upgraded Bancorp to a "buy" rating in a research report on Monday, July 7th. Finally, Raymond James Financial upgraded Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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.