The Bancorp, Inc. (NASDAQ:TBBK) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 79.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,285 shares of the bank's stock after buying an additional 38,961 shares during the quarter. Assenagon Asset Management S.A. owned about 0.16% of Bancorp worth $3,404,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Bancorp by 2.3% during the 1st quarter. BlackRock Inc. now owns 8,494,240 shares of the bank's stock valued at $240,641,000 after buying an additional 192,639 shares in the last quarter. FMR LLC boosted its holdings in shares of Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 4,879,852 shares of the bank's stock worth $168,355,000 after purchasing an additional 157,987 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Bancorp by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,562,416 shares of the bank's stock worth $78,302,000 after purchasing an additional 13,842 shares during the period. State Street Corp boosted its holdings in shares of Bancorp by 9.6% in the 1st quarter. State Street Corp now owns 2,735,551 shares of the bank's stock worth $77,498,000 after purchasing an additional 239,939 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Bancorp by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,577,944 shares of the bank's stock worth $71,795,000 after purchasing an additional 10,005 shares during the period. Hedge funds and other institutional investors own 96.22% of the company's stock.

Insider Activity

In related news, Director Daniela Mielke purchased 3,315 shares of the business's stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average cost of $45.13 per share, for a total transaction of $149,605.95. Following the acquisition, the director now owns 26,715 shares of the company's stock, valued at approximately $1,205,647.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bancorp news, Director Stephanie B. Mudick bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the purchase, the director now directly owns 31,584 shares in the company, valued at $1,172,082.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniela Mielke bought 3,315 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The shares were acquired at an average price of $45.13 per share, for a total transaction of $149,605.95. Following the completion of the purchase, the director now owns 26,715 shares in the company, valued at $1,205,647.95. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,800 shares of company stock worth $308,838. 4.30% of the stock is currently owned by company insiders.

Bancorp Stock Down 1.5 %

NASDAQ TBBK traded down $0.51 on Tuesday, reaching $32.43. 634,159 shares of the stock traded hands, compared to its average volume of 652,045. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.01. The company has a fifty day moving average price of $39.84 and a 200-day moving average price of $38.23. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 9.27 and a beta of 1.45. The Bancorp, Inc. has a 12 month low of $25.97 and a 12 month high of $47.11.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The business had revenue of $119.15 million for the quarter, compared to the consensus estimate of $118.52 million. As a group, research analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TBBK shares. Raymond James lifted their target price on Bancorp from $42.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, January 29th. Piper Sandler lifted their target price on Bancorp from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, December 21st. Finally, StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, March 6th.

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.