Algert Global LLC Buys 26,618 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Algert Global LLC grew its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 67.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,200 shares of the bank’s stock after purchasing an additional 26,618 shares during the quarter. Algert Global LLC owned about 0.13% of Bancorp worth $2,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after buying an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after acquiring an additional 1,272 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Bancorp in the 2nd quarter worth approximately $216,000. Profund Advisors LLC purchased a new position in shares of Bancorp in the 2nd quarter valued at approximately $237,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Bancorp during the first quarter valued at approximately $221,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TBBK. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price objective (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

Bancorp Trading Down 6.1 %

NASDAQ TBBK opened at $50.22 on Wednesday. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $54.97. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $49.97 and its 200-day moving average price is $40.12. The stock has a market cap of $2.46 billion, a P/E ratio of 13.71 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The firm had revenue of $124.52 million for the quarter, compared to the consensus estimate of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. As a group, equities analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

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.