Prudential Financial Inc. Sells 2,252 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Prudential Financial Inc. decreased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,004 shares of the bank’s stock after selling 2,252 shares during the quarter. Prudential Financial Inc. owned approximately 0.15% of Bancorp worth $3,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TBBK. Sheets Smith Investment Management bought a new position in shares of Bancorp in the 4th quarter worth about $1,251,000. Advantage Alpha Capital Partners LP lifted its holdings in shares of Bancorp by 12.9% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 12,182 shares of the bank’s stock valued at $641,000 after purchasing an additional 1,388 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Bancorp in the 4th quarter worth approximately $17,692,000. LPL Financial LLC grew its stake in shares of Bancorp by 52.1% in the 4th quarter. LPL Financial LLC now owns 9,230 shares of the bank’s stock worth $486,000 after buying an additional 3,163 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Bancorp during the 4th quarter valued at approximately $521,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $53.54 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 12.45 and a beta of 1.59. The business has a 50-day simple moving average of $56.10 and a two-hundred day simple moving average of $54.91. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating 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, analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

About Bancorp

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.