Lord Abbett & CO. LLC Sells 130,760 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Lord Abbett & CO. LLC lowered its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 43.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 172,479 shares of the bank's stock after selling 130,760 shares during the quarter. Lord Abbett & CO. LLC owned about 0.36% of Bancorp worth $9,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Bancorp by 191.8% in 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 during the last quarter. R Squared Ltd purchased a new stake in Bancorp during the 4th quarter worth approximately $45,000. Parkside Financial Bank & Trust grew its stake in Bancorp by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after purchasing an additional 424 shares in the last quarter. KBC Group NV raised its holdings in shares of Bancorp by 40.9% in the 4th quarter. KBC Group NV now owns 2,137 shares of the bank's stock valued at $112,000 after purchasing an additional 620 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Bancorp during the 4th quarter worth about $139,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Raymond James reissued an "outperform" rating and set a $67.00 price objective (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. StockNews.com lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Bancorp from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday.

Bancorp Stock Performance

Bancorp stock traded up $2.50 during mid-day trading on Friday, reaching $51.97. The company's stock had a trading volume of 131,220 shares, compared to its average volume of 578,674. The Bancorp, Inc. has a twelve month low of $30.79 and a twelve month high of $65.84. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 12.06 and a beta of 1.26. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $49.94 and a 200-day moving average price of $53.78.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). The firm had revenue of $175.39 million for the quarter, compared to analyst estimates of $108.88 million. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Sell-side analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Bancorp 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.