Intech Investment Management LLC Acquires 7,016 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Intech Investment Management LLC raised its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,207 shares of the bank's stock after acquiring an additional 7,016 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Bancorp worth $1,485,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TBBK. Smartleaf Asset Management LLC grew its stake in shares of 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 during the period. R Squared Ltd acquired a new position in shares of Bancorp during the 4th quarter worth about $45,000. Point72 DIFC Ltd bought a new stake in shares of Bancorp in the 3rd quarter valued at about $54,000. Advisors Asset Management Inc. raised its position in shares of Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock valued at $74,000 after acquiring an additional 741 shares during the period. Finally, National Bank of Canada FI bought a new stake in Bancorp in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Stock Performance

NASDAQ TBBK traded down $2.77 on Wednesday, hitting $53.56. 1,113,749 shares of the stock were exchanged, compared to its average volume of 565,181. 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's fifty day moving average is $56.34 and its 200 day moving average is $54.73. The company has a market capitalization of $2.57 billion, a PE ratio of 12.46 and a beta of 1.59. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84.

Remove Ads

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. Research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TBBK. Raymond James reissued an "outperform" rating and issued a $67.00 target price (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Piper Sandler increased 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 upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods boosted their price objective 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.

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.