Victory Capital Management Inc. Has $7.73 Million Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Victory Capital Management Inc. trimmed its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,946 shares of the bank’s stock after selling 127,660 shares during the period. Victory Capital Management Inc. owned 0.31% of Bancorp worth $7,734,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 489 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Bancorp in the fourth quarter valued at approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of Bancorp in the third quarter valued at approximately $54,000. Advisors Asset Management Inc. lifted its position 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 valued at $74,000 after buying an additional 741 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Bancorp in the third quarter valued at approximately $77,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $51.84 on Friday. The business’s 50 day moving average is $56.01 and its 200-day moving average is $54.48. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $65.84. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.49 billion, a P/E ratio of 12.06 and a beta of 1.59.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping 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%. Equities research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.