Elgethun Capital Management Sells 120,655 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Elgethun Capital Management cut its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 52.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,821 shares of the bank’s stock after selling 120,655 shares during the period. Bancorp makes up about 1.4% of Elgethun Capital Management’s portfolio, making the stock its 19th biggest holding. Elgethun Capital Management owned approximately 0.23% of Bancorp worth $5,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lord Abbett & CO. LLC grew its position in Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after acquiring an additional 56,959 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares in the last quarter. Principal Financial Group Inc. grew its position in Bancorp by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after acquiring an additional 9,748 shares during the last quarter. Sanctuary Advisors LLC raised its position in Bancorp by 111.9% in the fourth quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank’s stock valued at $638,000 after purchasing an additional 5,845 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Bancorp during the third quarter valued at about $729,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analyst Ratings Changes

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

Bancorp Stock Down 10.3 %

Bancorp stock opened at $43.92 on Monday. 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’s fifty day moving average price is $55.73 and its two-hundred day moving average price is $54.84. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 10.21 and a beta of 1.26. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $65.84.

Bancorp (NASDAQ:TBBK) last released its quarterly 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 net margin of 30.97% and a return on equity of 27.33%. On average, equities research analysts predict 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.