Fmr LLC Has $226.66 Million Stake in The Bancorp, Inc. (NASDAQ:TBBK)

FMR LLC lifted its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,306,715 shares of the bank's stock after buying an additional 85,908 shares during the quarter. FMR LLC owned about 8.99% of Bancorp worth $226,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its stake in shares of Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after acquiring an additional 489 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Bancorp in the fourth quarter valued at approximately $45,000. National Bank of Canada FI bought a new position in Bancorp in the 3rd quarter worth approximately $77,000. Parkside Financial Bank & Trust lifted its holdings in Bancorp by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after buying an additional 424 shares in the last quarter. Finally, KBC Group NV boosted its position in Bancorp by 40.9% in the 4th quarter. KBC Group NV now owns 2,137 shares of the bank's stock valued at $112,000 after buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Trading Up 1.8 %

Shares of NASDAQ TBBK traded up $0.82 during midday trading on Tuesday, reaching $46.06. 390,795 shares of the stock were exchanged, compared to its average volume of 596,649. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The business has a 50-day simple moving average of $52.98 and a two-hundred day simple moving average of $54.29.

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Bancorp (NASDAQ:TBBK - Get Free Report) last posted its 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%. As a group, equities research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.