Susquehanna Fundamental Investments LLC Purchases New Shares in The Bancorp, Inc. (NASDAQ:TBBK)

Susquehanna Fundamental Investments LLC acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,368 shares of the bank's stock, valued at approximately $391,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank's stock valued at $1,056,000 after buying an additional 234 shares during the last quarter. GAMMA Investing LLC increased 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 during the period. CANADA LIFE ASSURANCE Co raised its holdings in Bancorp by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank's stock worth $2,251,000 after purchasing an additional 302 shares during the last quarter. Legend Financial Advisors Inc. lifted its position in shares of Bancorp by 2.1% in the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank's stock worth $687,000 after purchasing an additional 380 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Bancorp by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank's stock valued at $815,000 after purchasing an additional 476 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bancorp Stock Up 3.3 %

Shares of TBBK traded up $1.74 during trading hours on Friday, hitting $53.97. The stock had a trading volume of 464,727 shares, compared to its average volume of 627,620. The firm has a 50 day simple moving average of $50.01 and a 200-day simple moving average of $40.39. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $54.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84. The firm has a market capitalization of $2.82 billion, a P/E ratio of 14.41 and a beta of 1.45.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). Bancorp had a net margin of 31.52% and a return on equity of 26.81%. The firm had revenue of $124.52 million for the quarter, compared to the consensus estimate of $127.45 million. Sell-side analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

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.