66,014 Shares in The Bancorp, Inc. (NASDAQ:TBBK) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 66,014 shares of the bank's stock, valued at approximately $3,474,000. Raymond James Financial Inc. owned approximately 0.14% of Bancorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Bancorp during the 4th quarter worth approximately $651,000. Jones Financial Companies Lllp raised its stake in shares of Bancorp by 75.0% during the fourth quarter. Jones Financial Companies Lllp now owns 6,934 shares of the bank's stock valued at $365,000 after acquiring an additional 2,971 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Bancorp by 191.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock worth $40,000 after purchasing an additional 489 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Bancorp by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock worth $79,000 after purchasing an additional 424 shares during the last quarter. Finally, Versor Investments LP grew its stake in shares of Bancorp by 33.4% in the fourth quarter. Versor Investments LP now owns 12,807 shares of the bank's stock worth $674,000 after purchasing an additional 3,207 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

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

Bancorp Trading Up 0.5 %

Shares of TBBK stock traded up $0.25 during mid-day trading on Monday, hitting $52.84. The company's stock had a trading volume of 430,001 shares, compared to its average volume of 573,538. The company has a market cap of $2.54 billion, a PE ratio of 12.29 and a beta of 1.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The company's fifty day simple moving average is $56.14 and its 200-day simple moving average is $54.88. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, equities research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share 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.