The Bancorp, Inc. (NASDAQ:TBBK) Shares Acquired by Algert Global LLC

Algert Global LLC grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 67.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,200 shares of the bank's stock after acquiring an additional 26,618 shares during the period. Algert Global LLC owned about 0.13% of Bancorp worth $2,500,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank's stock worth $55,000 after acquiring an additional 1,272 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Bancorp in the 2nd quarter worth approximately $216,000. Arcus Capital Partners LLC bought a new position in shares of Bancorp during the first quarter valued at approximately $221,000. Finally, SG Americas Securities LLC increased its holdings in Bancorp by 15.1% during the first quarter. SG Americas Securities LLC now owns 6,689 shares of the bank's stock valued at $224,000 after buying an additional 877 shares during the period. Hedge funds and other institutional investors own 96.22% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. StockNews.com cut shares of Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, July 30th. Finally, Piper Sandler lifted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th.

Bancorp Stock Up 1.9 %

NASDAQ:TBBK traded up $0.93 during mid-day trading on Wednesday, hitting $51.15. 365,756 shares of the company's stock traded hands, compared to its average volume of 629,931. The company has a fifty day moving average of $49.96 and a 200 day moving average of $40.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $54.97. The company has a market capitalization of $2.50 billion, a P/E ratio of 13.95 and a beta of 1.45.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.10 by ($0.03). The business had revenue of $124.52 million for the quarter, compared to analysts' expectations of $127.45 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. On average, analysts forecast that The Bancorp, Inc. will post 4.42 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.