Legend Financial Advisors Inc. Lowers Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Legend Financial Advisors Inc. lowered its position in The Bancorp, Inc. (NASDAQ:TBBK) by 23.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,889 shares of the bank’s stock after selling 4,311 shares during the quarter. Bancorp makes up about 0.5% of Legend Financial Advisors Inc.’s portfolio, making the stock its 23rd biggest position. Legend Financial Advisors Inc.’s holdings in Bancorp were worth $743,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nantahala Capital Management LLC purchased a new stake in Bancorp in the second quarter worth about $12,757,000. Jupiter Asset Management Ltd. raised its holdings in shares of Bancorp by 71.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after purchasing an additional 164,855 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after purchasing an additional 96,072 shares during the period. Jane Street Group LLC boosted its stake in shares of Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after buying an additional 70,178 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Price Performance

NASDAQ TBBK opened at $58.21 on Friday. The firm’s fifty day simple moving average is $51.47 and its two-hundred day simple moving average is $42.10. The firm has a market capitalization of $2.85 billion, a P/E ratio of 15.16 and a beta of 1.45. 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 Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $59.26.

Bancorp (NASDAQ:TBBK) last posted 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). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The business had revenue of $124.52 million during the quarter, compared to analyst estimates of $127.45 million. Analysts forecast that The Bancorp, Inc. will post 4.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.