The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,671 shares of the bank’s stock after selling 3,044 shares during the period. Rhumbline Advisers owned 0.29% of Bancorp worth $7,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TBBK. Blue Trust Inc. boosted its position 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 purchasing an additional 263 shares during the period. Raymond James & Associates grew its position in shares of Bancorp by 55.9% during the third quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock worth $2,690,000 after acquiring an additional 18,027 shares during the last quarter. US Bancorp DE acquired a new position in shares of Bancorp in the 3rd quarter valued at $83,000. James Investment Research Inc. raised its position in Bancorp by 1.1% in the 3rd quarter. James Investment Research Inc. now owns 74,446 shares of the bank’s stock valued at $3,983,000 after purchasing an additional 810 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. boosted its stake in Bancorp by 1.4% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 170,243 shares of the bank’s stock worth $9,108,000 after purchasing an additional 2,275 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $55.26 on Wednesday. The company has a market cap of $2.65 billion, a P/E ratio of 12.85 and a beta of 1.49. The company has a 50-day moving average price of $56.16 and a 200 day moving average price of $54.20. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK) last posted 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%. Research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.