Vanguard Group Inc. Has $204.49 Million Position in The Bancorp, Inc. $TBBK

Key Points

• Vanguard Group cut its stake in The Bancorp by 4.3% in the fourth quarter, but still held 3.03 million shares valued at about $204.5 million, or roughly 6.9% of the company.
• Bancorp’s latest quarterly results beat earnings expectations, with EPS of $1.41 versus the $1.34 consensus, though revenue came in below forecasts at $132.5 million.
• Analyst sentiment is generally positive, with a Moderate Buy consensus and a median price target of $59.50; the stock recently traded around $57.00.

Vanguard Group Inc. reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,028,553 shares of the bank's stock after selling 135,810 shares during the quarter. Vanguard Group Inc. owned about 6.90% of Bancorp worth $204,488,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in shares of Bancorp by 8.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank's stock valued at $157,000 after purchasing an additional 169 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Bancorp by 78.6% in the third quarter. Bessemer Group Inc. now owns 400 shares of the bank's stock valued at $30,000 after purchasing an additional 176 shares during the last quarter. Arete Wealth Advisors LLC grew its position in shares of Bancorp by 2.0% in the third quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank's stock valued at $715,000 after purchasing an additional 191 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Bancorp by 3.7% in the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank's stock valued at $318,000 after purchasing an additional 197 shares during the last quarter. Finally, Rothschild Investment LLC grew its position in shares of Bancorp by 213.6% in the third quarter. Rothschild Investment LLC now owns 345 shares of the bank's stock valued at $26,000 after purchasing an additional 235 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TBBK has been the topic of several research analyst reports. Piper Sandler initiated coverage on Bancorp in a research report on Thursday, March 12th. They issued an "overweight" rating and a $66.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Bancorp in a research report on Friday, March 27th. Wall Street Zen raised Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Raymond James Financial reiterated a "strong-buy" rating on shares of Bancorp in a research note on Tuesday, January 13th. Finally, Wolfe Research set a $57.00 target price on shares of Bancorp in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Bancorp Stock Down 4.2%

NASDAQ TBBK opened at $57.00 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a 50-day simple moving average of $56.20 and a 200 day simple moving average of $62.59. The Bancorp, Inc. has a twelve month low of $48.86 and a twelve month high of $81.65. The stock has a market cap of $2.37 billion, a PE ratio of 11.09 and a beta of 1.26.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. Bancorp had a net margin of 26.92% and a return on equity of 30.56%. The business had revenue of $132.50 million during the quarter, compared to analysts' expectations of $189.17 million. On average, research analysts forecast that The Bancorp, Inc. will post 5.95 EPS for the current year.

Insiders Place Their Bets

In other Bancorp news, CFO Dominic C. Canuso purchased 2,000 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was purchased at an average price of $60.54 per share, for a total transaction of $121,080.00. Following the completion of the purchase, the chief financial officer directly owned 16,169 shares in the company, valued at approximately $978,871.26. This trade represents a 14.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Cohn purchased 680 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were acquired at an average price of $62.14 per share, with a total value of $42,255.20. Following the purchase, the director owned 3,655 shares of the company's stock, valued at approximately $227,121.70. This trade represents a 22.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 3,880 shares of company stock valued at $235,683 and have sold 17,370 shares valued at $1,014,778. Corporate insiders own 6.00% of the company's stock.

Bancorp Profile

The Bancorp, Inc NASDAQ: TBBK is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company's product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.

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