The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 323,090 shares of the bank’s stock after selling 16,963 shares during the period. Bank of New York Mellon Corp owned about 0.67% of Bancorp worth $17,004,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of TBBK. R Squared Ltd acquired a new position in shares of Bancorp in the 4th quarter valued at about $45,000. Point72 DIFC Ltd acquired a new position in shares of Bancorp in the 3rd quarter valued at about $54,000. Advisors Asset Management Inc. boosted its holdings in shares of Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after buying an additional 741 shares during the period. National Bank of Canada FI acquired a new position in shares of Bancorp in the 3rd quarter valued at about $77,000. Finally, US Bancorp DE acquired a new position in Bancorp during the 3rd quarter valued at about $83,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Down 0.9 %

TBBK stock opened at $49.74 on Wednesday. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.57 and a beta of 1.59. The firm’s 50-day moving average is $56.12 and its two-hundred day moving average is $54.55. 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 released its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TBBK shares. Raymond James reissued an “outperform” rating and set a $67.00 target price (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Piper Sandler boosted their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research note 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.