Epoch Investment Partners Inc. Trims Position in The Bancorp, Inc. (NASDAQ:TBBK)

Epoch Investment Partners Inc. decreased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 81.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,998 shares of the bank’s stock after selling 317,719 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.14% of Bancorp worth $2,719,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TBBK. Charles Schwab Investment Management Inc. lifted its position in shares of Bancorp by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,171 shares of the bank’s stock valued at $16,896,000 after acquiring an additional 5,145 shares in the last quarter. Trexquant Investment LP lifted its holdings in Bancorp by 26.4% in the 4th quarter. Trexquant Investment LP now owns 32,004 shares of the bank’s stock worth $1,234,000 after purchasing an additional 6,681 shares in the last quarter. Quest Partners LLC purchased a new position in Bancorp in the 4th quarter worth approximately $115,000. Franklin Resources Inc. boosted its stake in Bancorp by 28.2% in the 4th quarter. Franklin Resources Inc. now owns 33,608 shares of the bank’s stock worth $1,296,000 after purchasing an additional 7,389 shares during the period. Finally, US Bancorp DE grew its holdings in Bancorp by 691.0% during the 4th quarter. US Bancorp DE now owns 25,717 shares of the bank’s stock valued at $992,000 after buying an additional 22,466 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Trading Down 0.2 %

Shares of TBBK opened at $53.01 on Tuesday. The stock has a market capitalization of $2.77 billion, a PE ratio of 14.40 and a beta of 1.45. The company’s fifty day moving average is $49.62 and its 200 day moving average is $39.55. 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 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The business had revenue of $124.52 million during the quarter, compared to the consensus estimate of $127.45 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. Sell-side analysts expect that The Bancorp, Inc. will post 4.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TBBK. Piper Sandler upped their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th.

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.