Voloridge Investment Management LLC Reduces Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Voloridge Investment Management LLC lessened its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,423 shares of the bank's stock after selling 52,855 shares during the period. Voloridge Investment Management LLC owned approximately 0.89% of Bancorp worth $22,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arete Wealth Advisors LLC raised its holdings in Bancorp by 2.6% during the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank's stock valued at $508,000 after acquiring an additional 242 shares during the period. Napa Wealth Management raised its holdings in Bancorp by 3.8% during the 4th quarter. Napa Wealth Management now owns 6,940 shares of the bank's stock valued at $365,000 after acquiring an additional 255 shares during the period. Arcus Capital Partners LLC raised its holdings in Bancorp by 5.0% during the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank's stock valued at $347,000 after acquiring an additional 315 shares during the period. Envestnet Asset Management Inc. raised its holdings in Bancorp by 3.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank's stock valued at $635,000 after acquiring an additional 408 shares during the period. Finally, Bank of Montreal Can raised its holdings in Bancorp by 8.1% during the 4th quarter. Bank of Montreal Can now owns 5,565 shares of the bank's stock valued at $293,000 after acquiring an additional 418 shares during the period. Hedge funds and other institutional investors own 96.22% of the company's stock.

Bancorp Price Performance

NASDAQ:TBBK traded down $0.52 during midday trading on Wednesday, hitting $51.79. The company had a trading volume of 60,608 shares, compared to its average volume of 567,716. The stock's fifty day moving average price is $49.88 and its 200-day moving average price is $53.70. 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 52-week low of $31.34 and a 52-week high of $65.84. The company has a market capitalization of $2.42 billion, a PE ratio of 12.03 and a beta of 1.31.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $108.88 million. As a group, research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TBBK. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price target on shares of Bancorp from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd.

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.