Lord Abbett & CO. LLC Has $9.08 Million Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Lord Abbett & CO. LLC lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 43.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,479 shares of the bank's stock after selling 130,760 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.36% of Bancorp worth $9,078,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Bancorp by 191.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after acquiring an additional 489 shares during the period. R Squared Ltd acquired a new position in Bancorp during the 4th quarter worth $45,000. Parkside Financial Bank & Trust boosted its position in Bancorp by 39.3% during the 4th 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 period. KBC Group NV boosted its position 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 acquiring an additional 620 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Bancorp during the 4th quarter worth $139,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Monday. 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 note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective on Bancorp from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday.

Bancorp Trading Up 2.2 %

Shares of Bancorp stock traded up $1.04 on Tuesday, reaching $48.75. 290,644 shares of the company were exchanged, compared to its average volume of 584,028. The stock has a fifty day moving average price of $50.21 and a 200-day moving average price of $53.86. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 11.34 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.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). The company had revenue of $175.39 million for the quarter, compared to analyst estimates of $108.88 million. 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.