The Bancorp, Inc. (NASDAQ:TBBK) Holdings Boosted by Congress Asset Management Co.

Congress Asset Management Co. boosted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 223,154 shares of the bank’s stock after purchasing an additional 9,721 shares during the period. Congress Asset Management Co.’s holdings in Bancorp were worth $11,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after purchasing an additional 263 shares in the last quarter. R Squared Ltd purchased a new position in Bancorp during the 4th quarter worth approximately $45,000. Point72 DIFC Ltd purchased a new position in Bancorp during the 3rd quarter valued at about $54,000. Advisors Asset Management Inc. increased its holdings in shares of Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after purchasing an additional 741 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of Bancorp in the third quarter worth approximately $77,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, January 12th. Keefe, Bruyette & Woods boosted their price target on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler increased their price objective on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, Raymond James restated an “outperform” rating and issued a $67.00 target price (up previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd.

Bancorp Stock Performance

TBBK stock opened at $60.49 on Monday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.07 and a beta of 1.49. The firm has a 50 day moving average of $55.85 and a two-hundred day moving average of $53.69. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 30th. The bank reported $1.15 EPS 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%. As a group, equities analysts anticipate that The Bancorp, Inc. will post 5.31 EPS 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.