Swiss National Bank Sells 4,500 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Swiss National Bank lessened its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,500 shares of the bank's stock after selling 4,500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Bancorp worth $4,816,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank's stock valued at $72,914,000 after acquiring an additional 6,459 shares during the last quarter. Franklin Resources Inc. grew its holdings in 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 purchasing an additional 144,867 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank's stock valued at $20,532,000 after purchasing an additional 219,020 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Bancorp by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank's stock worth $16,032,000 after buying an additional 9,748 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Bancorp by 23.1% during the 3rd 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. 96.22% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Bancorp Stock Performance

Bancorp stock traded down $1.00 during trading hours on Friday, hitting $52.59. The stock had a trading volume of 370,148 shares, compared to its average volume of 575,867. The company has a 50-day moving average of $56.21 and a two-hundred day moving average of $54.74. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The company has a market cap of $2.53 billion, a PE ratio of 12.23 and a beta of 1.59.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Bancorp 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.