The Bancorp, Inc. (NASDAQ:TBBK) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in The Bancorp, Inc. (NASDAQ:TBBK) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,609 shares of the bank’s stock after purchasing an additional 9,748 shares during the quarter. Principal Financial Group Inc. owned about 0.64% of Bancorp worth $16,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after purchasing an additional 263 shares during the last quarter. Arcus Capital Partners LLC lifted its holdings in shares of Bancorp by 5.0% in the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after acquiring an additional 315 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Bancorp by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,403 shares of the bank’s stock worth $284,000 after acquiring an additional 539 shares during the last quarter. KBC Group NV lifted its holdings in shares of Bancorp by 40.9% in the 4th quarter. KBC Group NV now owns 2,137 shares of the bank’s stock worth $112,000 after acquiring an additional 620 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Bancorp by 2.3% in the 3rd quarter. Natixis Advisors LLC now owns 30,551 shares of the bank’s stock worth $1,634,000 after acquiring an additional 673 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of TBBK opened at $55.26 on Wednesday. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The firm’s 50 day moving average price is $56.16 and its 200 day moving average price is $54.20. The company has a market cap of $2.65 billion, a P/E ratio of 12.85 and a beta of 1.49. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, research analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on TBBK. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Raymond James restated an “outperform” rating and issued a $67.00 price objective (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Piper Sandler upped their price objective on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd.

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.