Wellington Management Group LLP Reduces Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Wellington Management Group LLP lessened its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,727,911 shares of the bank's stock after selling 256,665 shares during the quarter. Wellington Management Group LLP owned approximately 3.59% of Bancorp worth $90,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in Bancorp by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank's stock worth $16,032,000 after buying an additional 9,748 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Bancorp in the 4th quarter worth about $3,474,000. Sanctuary Advisors LLC boosted its stake in Bancorp by 111.9% in the 4th quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank's stock worth $638,000 after buying an additional 5,845 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Bancorp by 191.8% in the 4th 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 last quarter. Finally, Emerald Advisers LLC acquired a new stake in Bancorp in the 4th quarter worth about $17,692,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Analyst Ratings Changes

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

Bancorp Trading Down 2.5%

Shares of NASDAQ TBBK traded down $1.30 during midday trading on Monday, hitting $49.80. The stock had a trading volume of 705,173 shares, compared to its average volume of 568,165. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 11.58 and a beta of 1.31. The Bancorp, Inc. has a 1-year low of $31.51 and a 1-year high of $65.84. 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 company has a fifty day moving average price of $49.54 and a 200 day moving average price of $53.53.

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 the consensus estimate of $1.22 by ($0.03). The firm had revenue of $175.39 million during the quarter, compared to analyst estimates of $108.88 million. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, analysts predict 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.