The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 36.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,359 shares of the bank’s stock after selling 18,035 shares during the quarter. Federated Hermes Inc. owned 0.06% of Bancorp worth $1,184,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after buying an additional 291 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Bancorp by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock worth $2,251,000 after buying an additional 302 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in Bancorp by 2.1% during the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after buying an additional 380 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Bancorp by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank’s stock worth $815,000 after buying an additional 476 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Bancorp by 1.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock worth $1,157,000 after buying an additional 492 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on TBBK shares. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, Piper Sandler boosted their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th.

Bancorp Stock Down 2.0 %

Bancorp stock opened at $53.11 on Friday. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $54.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88. The company has a market capitalization of $2.77 billion, a P/E ratio of 14.43 and a beta of 1.45. The stock has a 50-day simple moving average of $49.47 and a 200-day simple moving average of $39.45.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). The company had revenue of $124.52 million during the quarter, compared to analyst estimates of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. Equities research analysts expect that The Bancorp, Inc. will post 4.42 earnings per share for the current 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.