The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in The Bancorp, Inc. (NASDAQ:TBBK) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,403 shares of the bank’s stock after acquiring an additional 539 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Bancorp were worth $284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TBBK. Sheets Smith Wealth Management lifted its position in shares of Bancorp by 42.6% during the 4th quarter. Sheets Smith Wealth Management now owns 10,029 shares of the bank’s stock worth $528,000 after buying an additional 2,998 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after acquiring an additional 219,020 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after acquiring an additional 56,959 shares during the last quarter. Franklin Resources Inc. boosted its stake in Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after acquiring an additional 144,867 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Bancorp during the third quarter worth about $300,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Stock Up 3.8 %

Bancorp stock opened at $62.51 on Wednesday. The stock has a 50 day moving average of $55.64 and a two-hundred day moving average of $53.48. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $65.84. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.54 and a beta of 1.49. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

TBBK has been the subject of several research reports. Raymond James reissued an “outperform” rating and issued a $67.00 target price (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Piper Sandler lifted their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd.

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.