Raymond James Financial Inc. Invests $3.47 Million in The Bancorp, Inc. (NASDAQ:TBBK)

Raymond James Financial Inc. acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 66,014 shares of the bank’s stock, valued at approximately $3,474,000. Raymond James Financial Inc. owned about 0.14% of Bancorp as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TBBK. Pathstone Holdings LLC lifted its holdings in shares of Bancorp by 53.5% in the 3rd quarter. Pathstone Holdings LLC now owns 32,126 shares of the bank’s stock worth $1,719,000 after purchasing an additional 11,197 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Bancorp by 136.6% in the third quarter. Intech Investment Management LLC now owns 21,191 shares of the bank’s stock valued at $1,134,000 after buying an additional 12,233 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Bancorp by 8.0% in the third quarter. Cerity Partners LLC now owns 25,904 shares of the bank’s stock valued at $1,386,000 after buying an additional 1,913 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Bancorp during the third quarter valued at about $514,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bancorp Stock Performance

Bancorp stock opened at $53.59 on Friday. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a market cap of $2.58 billion, a P/E ratio of 12.46 and a beta of 1.59. The firm’s fifty day moving average price is $56.27 and its 200-day moving average price is $54.72.

Bancorp (NASDAQ:TBBK) last released its 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%. On average, equities research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share 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.