Charles Schwab Investment Management Inc. Sells 8,474 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Charles Schwab Investment Management Inc. lessened its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 446,145 shares of the bank’s stock after selling 8,474 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.93% of Bancorp worth $23,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TBBK. Smartleaf Asset Management LLC increased its holdings in Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after purchasing an additional 489 shares during the last quarter. R Squared Ltd bought a new stake in shares of Bancorp in the fourth quarter worth about $45,000. Point72 DIFC Ltd bought a new stake in shares of Bancorp in the third quarter worth about $54,000. Advisors Asset Management Inc. increased its holdings in shares of Bancorp by 114.4% in the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after acquiring an additional 741 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Bancorp in the third quarter worth about $77,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Down 0.2 %

TBBK stock opened at $52.58 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a market capitalization of $2.53 billion, a P/E ratio of 12.23 and a beta of 1.59. The business has a 50-day moving average of $55.96 and a 200-day moving average of $54.55. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TBBK shares. Piper Sandler increased their price target on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Raymond James restated an “outperform” rating and issued a $67.00 price target (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report 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.