Legal & General Group Plc Has $7.10 Million Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Legal & General Group Plc reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,930 shares of the bank's stock after selling 6,208 shares during the period. Legal & General Group Plc owned 0.28% of Bancorp worth $7,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TBBK. Stifel Financial Corp bought a new position in Bancorp in the 3rd quarter worth $729,000. Barclays PLC increased its stake in shares of Bancorp by 34.1% in the third quarter. Barclays PLC now owns 140,844 shares of the bank's stock worth $7,536,000 after purchasing an additional 35,777 shares during the period. Geode Capital Management LLC lifted its position in shares of Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank's stock worth $72,914,000 after purchasing an additional 6,459 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Bancorp during the 3rd quarter valued at approximately $300,000. Finally, Franklin Resources Inc. grew its holdings in Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank's stock valued at $52,061,000 after buying an additional 144,867 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Price Performance

NASDAQ:TBBK traded up $0.56 during mid-day trading on Thursday, hitting $48.94. The company's stock had a trading volume of 104,478 shares, compared to its average volume of 583,539. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.38 and a beta of 1.26. 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 Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The stock has a fifty day moving average of $51.12 and a 200-day moving average of $54.00.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued 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 forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Raymond James reiterated an "outperform" rating and set a $67.00 target price (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th.

Bancorp Company Profile

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.