Legato Capital Management LLC Decreases Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Legato Capital Management LLC lowered its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 77.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,015 shares of the bank's stock after selling 24,396 shares during the quarter. Legato Capital Management LLC's holdings in Bancorp were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TBBK. Geode Capital Management LLC grew its stake 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 valued at $72,914,000 after acquiring an additional 6,459 shares during the period. Franklin Resources Inc. grew its stake in shares of Bancorp by 18.6% during the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank's stock valued at $52,061,000 after acquiring an additional 144,867 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank's stock valued at $20,532,000 after acquiring an additional 219,020 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Bancorp by 23.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank's stock valued at $16,223,000 after acquiring an additional 56,959 shares during the period. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank's stock valued at $12,739,000 after acquiring an additional 70,768 shares during the period. Hedge funds and other institutional investors own 96.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TBBK. Piper Sandler boosted their price objective on Bancorp from $61.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods boosted their price objective on Bancorp from $66.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. StockNews.com downgraded Bancorp from a "hold" rating to a "sell" rating in a research note on Sunday, January 12th. Finally, Raymond James restated an "outperform" rating and issued a $67.00 price target (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd.

Bancorp Price Performance

TBBK stock traded up $0.12 during midday trading on Tuesday, hitting $60.61. The company's stock had a trading volume of 233,942 shares, compared to its average volume of 465,937. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.08 and a beta of 1.49. The company has a 50 day moving average of $55.95 and a two-hundred day moving average of $53.76.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly 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%. On average, analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

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.