Nantahala Capital Management LLC Takes $12.76 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Nantahala Capital Management LLC acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 337,846 shares of the bank’s stock, valued at approximately $12,757,000. Bancorp comprises about 0.7% of Nantahala Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Nantahala Capital Management LLC owned 0.65% of Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. lifted its stake in Bancorp by 71.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after purchasing an additional 164,855 shares during the last quarter. Marshall Wace LLP boosted its position in Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after acquiring an additional 96,072 shares during the last quarter. Jane Street Group LLC raised its position in shares of Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after acquiring an additional 70,361 shares in the last quarter. American Century Companies Inc. grew its stake in Bancorp by 4.6% during 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 during the period. Finally, Stieven Capital Advisors L.P. acquired a new stake in Bancorp during the second quarter worth approximately $1,322,000. 96.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Bancorp Stock Performance

Shares of Bancorp stock opened at $53.50 on Tuesday. The company has a market cap of $2.62 billion, a PE ratio of 14.54 and a beta of 1.45. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $54.97. The business has a 50 day moving average price of $49.97 and a 200-day moving average price of $40.12.

Bancorp (NASDAQ:TBBK) last issued its quarterly 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 net margin of 31.52% and a return on equity of 26.81%. The business had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Equities analysts anticipate that The Bancorp, Inc. will post 4.42 earnings per share 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.