SkyOak Wealth LLC Takes Position in The Bancorp, Inc. (NASDAQ:TBBK)

SkyOak Wealth LLC purchased a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,465 shares of the bank's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also made changes to their positions in TBBK. Blue Trust Inc. grew its holdings in shares of Bancorp by 72.3% during the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares during the period. R Squared Ltd purchased a new position in Bancorp in the fourth quarter valued at about $45,000. Point72 DIFC Ltd acquired a new position in Bancorp during the 3rd quarter worth $54,000. GAMMA Investing LLC increased its position in shares of Bancorp by 42.4% during the third quarter. GAMMA Investing LLC now owns 1,099 shares of the bank's stock valued at $59,000 after purchasing an additional 327 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank's stock valued at $74,000 after buying an additional 741 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com cut Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, January 12th. Raymond James reaffirmed an "outperform" rating and set a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research report on Monday. Piper Sandler increased their price objective on shares of Bancorp from $61.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Bancorp from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday.

Bancorp Trading Down 0.3 %

TBBK traded down $0.19 during midday trading on Thursday, reaching $62.56. 655,942 shares of the company's stock traded hands, compared to its average volume of 464,030. The firm has a fifty day moving average of $55.40 and a two-hundred day moving average of $53.22. 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 stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.55 and a beta of 1.49. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $64.53.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, equities analysts anticipate that The Bancorp, Inc. will post 5.25 earnings per share for the current fiscal 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.