Raymond James Financial Inc. Takes $3.47 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Raymond James Financial Inc. acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 66,014 shares of the bank's stock, valued at approximately $3,474,000. Raymond James Financial Inc. owned 0.14% of Bancorp at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised 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 purchasing an additional 489 shares during the last quarter. R Squared Ltd bought a new position in shares of Bancorp during the 4th quarter valued at approximately $45,000. Parkside Financial Bank & Trust increased its stake in shares of Bancorp by 39.3% in the fourth 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 increased its stake in Bancorp by 40.9% in the 4th quarter. KBC Group NV now owns 2,137 shares of the bank's stock worth $112,000 after buying an additional 620 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Bancorp during the 4th quarter valued at approximately $139,000. 96.22% of the stock is currently owned by institutional investors.

Bancorp Price Performance

TBBK stock traded up $1.30 during midday trading on Friday, reaching $50.77. The stock had a trading volume of 50,766 shares, compared to its average volume of 578,301. The company's fifty day simple moving average is $49.94 and its 200 day simple moving average is $53.78. 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 company has a market cap of $2.43 billion, a price-to-earnings ratio of 11.89 and a beta of 1.26. The Bancorp, Inc. has a 52-week low of $30.79 and a 52-week high of $65.84.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results 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 for 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%. As a group, sell-side analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on TBBK shares. Raymond James reiterated an "outperform" rating and issued a $67.00 target price (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. StockNews.com lowered Bancorp from a "hold" rating to a "sell" rating in a report on Monday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Bancorp from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Monday.

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.