Bancorp (NASDAQ:TBBK) Shares Up 10.2% - Here's What Happened

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report)'s stock price traded up 10.2% during trading on Tuesday . The stock traded as high as $44.62 and last traded at $45.11. 132,808 shares were traded during trading, a decline of 77% from the average session volume of 587,310 shares. The stock had previously closed at $40.93.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several recent analyst reports. Piper Sandler raised their target price on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Keefe, Bruyette & Woods raised their price target on Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Raymond James reissued an "outperform" rating and set a $67.00 price objective (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd.

Bancorp Price Performance

The stock has a market cap of $2.10 billion, a PE ratio of 10.15 and a beta of 1.26. The business has a fifty day simple moving average of $53.66 and a two-hundred day simple moving average of $54.38. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

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Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping 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%. Research analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Institutional Investors Weigh In On Bancorp

Several hedge funds have recently bought and sold shares of TBBK. FMR LLC boosted its position in shares of Bancorp by 2.0% in the 4th quarter. FMR LLC now owns 4,306,715 shares of the bank's stock worth $226,662,000 after purchasing an additional 85,908 shares in the last quarter. American Century Companies Inc. raised its stake in Bancorp by 35.9% during the fourth quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank's stock valued at $125,971,000 after buying an additional 631,744 shares during the last quarter. Invesco Ltd. boosted its holdings in Bancorp by 26.2% in the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock worth $118,251,000 after acquiring an additional 466,795 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank's stock worth $72,914,000 after acquiring an additional 6,459 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Bancorp by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock valued at $51,783,000 after acquiring an additional 33,943 shares in the last quarter. Institutional investors own 96.22% of the company's stock.

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.