Allspring Global Investments Holdings LLC Sells 1,388 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Allspring Global Investments Holdings LLC lessened its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,880 shares of the bank’s stock after selling 1,388 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bancorp were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TBBK. Blue Trust Inc. lifted its stake in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the last quarter. R Squared Ltd bought a new stake in shares of Bancorp in the 4th quarter valued at about $45,000. Point72 DIFC Ltd bought a new stake in shares of Bancorp in the 3rd quarter valued at about $54,000. Advisors Asset Management Inc. raised its position in Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after purchasing an additional 741 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in Bancorp during the 3rd quarter valued at approximately $77,000. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TBBK. StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, January 12th. Raymond James reaffirmed an “outperform” rating and set a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Piper Sandler upped their price target on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Bancorp Stock Down 1.1 %

Shares of NASDAQ:TBBK opened at $55.50 on Tuesday. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $65.84. The firm has a market capitalization of $2.66 billion, a P/E ratio of 12.91 and a beta of 1.49. The stock has a 50 day moving average price of $56.16 and a 200-day moving average price of $54.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) 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, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Bancorp Company 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.