The Bancorp, Inc. (NASDAQ:TBBK) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 952,277 shares of the bank's stock after acquiring an additional 26,907 shares during the period. Franklin Resources Inc. owned about 1.99% of Bancorp worth $50,118,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in Bancorp by 191.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after purchasing an additional 489 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Bancorp in the 4th quarter worth about $45,000. Point72 DIFC Ltd acquired a new stake in Bancorp in the 3rd quarter valued at about $54,000. National Bank of Canada FI acquired a new position in Bancorp during the third quarter worth about $77,000. Finally, Parkside Financial Bank & Trust raised its position in Bancorp by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after acquiring an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TBBK shares. Piper Sandler increased 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. StockNews.com upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a 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 report on Monday, February 3rd. Finally, Raymond James reissued an "outperform" rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd.

Remove Ads

Bancorp Trading Down 8.3 %

NASDAQ:TBBK traded down $3.91 during mid-day trading on Thursday, reaching $43.09. The company's stock had a trading volume of 128,383 shares, compared to its average volume of 594,721. 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 stock has a market cap of $2.07 billion, a P/E ratio of 9.99 and a beta of 1.26. The company's fifty day simple moving average is $54.40 and its two-hundred day simple moving average is $54.49. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $65.84.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.97% and a return on equity of 27.33%. On average, equities analysts predict that The Bancorp, Inc. will post 5.31 EPS 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.