Geode Capital Management LLC Sells 32,858 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Geode Capital Management LLC lowered its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,329,810 shares of the bank's stock after selling 32,858 shares during the quarter. Geode Capital Management LLC owned about 2.77% of Bancorp worth $70,002,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position 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 buying an additional 489 shares during the last quarter. R Squared Ltd bought a new position in Bancorp in the fourth quarter valued at about $45,000. National Bank of Canada FI bought a new position in Bancorp in the third quarter valued at about $77,000. Parkside Financial Bank & Trust increased its position in Bancorp by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after purchasing an additional 424 shares during the period. Finally, KBC Group NV raised its holdings in Bancorp by 40.9% during the 4th quarter. KBC Group NV now owns 2,137 shares of the bank's stock worth $112,000 after purchasing an additional 620 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

Bancorp Stock Up 1.8 %

Shares of NASDAQ TBBK traded up $0.82 during mid-day trading on Tuesday, reaching $46.06. 390,795 shares of the company's stock were exchanged, compared to its average volume of 596,649. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $65.84. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.71 and a beta of 1.26. The business has a fifty day simple moving average of $53.31 and a 200 day simple moving average of $54.34.

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Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TBBK shares. Piper Sandler raised their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday, December 23rd. Raymond James reaffirmed 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. StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, 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 report 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.