American Century Companies Inc. Buys 631,744 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

American Century Companies Inc. raised its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 35.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,393,529 shares of the bank's stock after acquiring an additional 631,744 shares during the quarter. American Century Companies Inc. owned approximately 4.99% of Bancorp worth $125,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock valued at $40,000 after purchasing an additional 489 shares during the last quarter. R Squared Ltd acquired a new stake in Bancorp during the fourth quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in Bancorp during the third quarter worth approximately $54,000. Advisors Asset Management Inc. increased its stake in Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock worth $74,000 after acquiring an additional 741 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Bancorp during the 3rd quarter valued at $77,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James reissued 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. StockNews.com upgraded Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Piper Sandler raised their target price on Bancorp from $61.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd.

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Bancorp Price Performance

TBBK stock traded up $0.03 during midday trading on Thursday, reaching $53.59. 393,868 shares of the stock were exchanged, compared to its average volume of 563,913. The company has a fifty day moving average price of $56.31 and a 200 day moving average price of $54.72. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The stock has a market capitalization of $2.58 billion, a PE ratio of 12.46 and a beta of 1.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal 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.