KBC Group NV Grows Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

KBC Group NV raised its position in The Bancorp, Inc. (NASDAQ:TBBK) by 40.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,137 shares of the bank’s stock after buying an additional 620 shares during the period. KBC Group NV’s holdings in Bancorp were worth $112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock worth $72,914,000 after acquiring an additional 6,459 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after purchasing an additional 144,867 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after buying an additional 219,020 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after buying an additional 56,959 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after acquiring an additional 70,768 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Keefe, Bruyette & Woods lifted their target price on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler increased their price target on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Finally, Raymond James restated an “outperform” rating and set a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd.

Bancorp Trading Down 1.4 %

Shares of NASDAQ:TBBK opened at $61.66 on Friday. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $64.53. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.96 billion, a PE ratio of 14.34 and a beta of 1.49. The company’s 50-day moving average price is $55.40 and its 200 day moving average price is $53.22.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Sell-side analysts anticipate that The Bancorp, Inc. will post 5.25 earnings per share for the current year.

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.