Proficio Capital Partners LLC Invests $651,000 in The Bancorp, Inc. (NASDAQ:TBBK)

Proficio Capital Partners LLC purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,368 shares of the bank's stock, valued at approximately $651,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank's stock worth $20,532,000 after purchasing an additional 219,020 shares during the period. Franklin Resources Inc. grew its stake in shares of Bancorp by 18.6% during the third 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. Lord Abbett & CO. LLC increased its holdings in shares of Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank's stock worth $16,223,000 after buying an additional 56,959 shares during the period. Barclays PLC lifted its stake in shares of Bancorp by 34.1% in the 3rd quarter. Barclays PLC now owns 140,844 shares of the bank's stock valued at $7,536,000 after acquiring an additional 35,777 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Bancorp during the 3rd quarter valued at about $1,833,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Trading Up 0.1 %

Bancorp stock traded up $0.03 during mid-day trading on Thursday, reaching $53.59. 393,868 shares of the company traded hands, compared to its average volume of 563,913. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $65.84. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 12.46 and a beta of 1.59. The firm's 50 day moving average price is $56.31 and its 200 day moving average price is $54.72.

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Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly 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 net margin of 30.97% and a return on equity of 27.33%. On average, analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Piper Sandler lifted their price target on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. Raymond James reiterated an "outperform" rating and set a $67.00 price target (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd. StockNews.com raised shares of Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bancorp from $66.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd.

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.