Edgestream Partners L.P. Buys 8,996 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Edgestream Partners L.P. grew its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 67.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,261 shares of the bank’s stock after buying an additional 8,996 shares during the quarter. Edgestream Partners L.P.’s holdings in Bancorp were worth $841,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. purchased a new stake in Bancorp in the 2nd quarter worth approximately $216,000. WINTON GROUP Ltd lifted its holdings in Bancorp by 12.4% during the second quarter. WINTON GROUP Ltd now owns 29,498 shares of the bank’s stock valued at $1,114,000 after purchasing an additional 3,243 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Bancorp by 11.6% in the second quarter. Jupiter Asset Management Ltd. now owns 442,715 shares of the bank’s stock worth $16,717,000 after purchasing an additional 46,115 shares during the period. American Century Companies Inc. increased its stake in shares of Bancorp by 4.6% in the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after purchasing an additional 70,178 shares in the last quarter. Finally, Van Hulzen Asset Management LLC raised its position in shares of Bancorp by 97.8% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 42,703 shares of the bank’s stock valued at $1,612,000 after purchasing an additional 21,112 shares during the period. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

TBBK opened at $53.11 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 14.43 and a beta of 1.45. The company has a fifty day moving average of $49.47 and a 200 day moving average of $39.45. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $54.97.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The firm had revenue of $124.52 million during the quarter, compared to analysts’ expectations of $127.45 million. As a group, sell-side analysts forecast that The Bancorp, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, Piper Sandler increased their target price on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

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.