Alberta Investment Management Corp Purchases 22,749 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Alberta Investment Management Corp increased its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 36.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,416 shares of the bank's stock after purchasing an additional 22,749 shares during the quarter. Alberta Investment Management Corp owned approximately 0.18% of Bancorp worth $4,443,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in Bancorp during the 3rd quarter valued at $514,000. Lord Abbett & CO. LLC raised its holdings in Bancorp by 23.1% during the 3rd 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 period. Raymond James & Associates raised its holdings in Bancorp by 55.9% during the 3rd quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock valued at $2,690,000 after acquiring an additional 18,027 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Bancorp during the 3rd quarter valued at $2,080,000. Finally, Entropy Technologies LP raised its holdings in Bancorp by 175.4% during the 3rd quarter. Entropy Technologies LP now owns 18,997 shares of the bank's stock valued at $1,016,000 after acquiring an additional 12,100 shares during the period. Institutional investors own 96.22% of the company's stock.

Analyst Upgrades and Downgrades

TBBK has been the topic of a number of analyst reports. Raymond James reissued an "outperform" rating and set a $67.00 target price (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Piper Sandler boosted their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods upped their price target on shares of Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, January 12th.

Bancorp Price Performance

Shares of Bancorp stock traded down $2.28 during trading on Friday, hitting $56.04. The stock had a trading volume of 277,877 shares, compared to its average volume of 465,094. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 13.00 and a beta of 1.49. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84. The business's 50-day moving average is $56.19 and its 200 day moving average is $53.92. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (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, sell-side analysts anticipate 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.