The Bancorp, Inc. (NASDAQ:TBBK) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. increased its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,154 shares of the bank's stock after buying an additional 9,721 shares during the period. Congress Asset Management Co. owned 0.47% of Bancorp worth $11,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TBBK. Blue Trust Inc. increased its holdings in 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. Raymond James & Associates increased its stake in shares of Bancorp by 55.9% during the third quarter. Raymond James & Associates now owns 50,276 shares of the bank's stock valued at $2,690,000 after buying an additional 18,027 shares during the period. US Bancorp DE purchased a new position in shares of Bancorp during the third quarter valued at $83,000. James Investment Research Inc. raised its holdings in shares of Bancorp by 1.1% in the third quarter. James Investment Research Inc. now owns 74,446 shares of the bank's stock valued at $3,983,000 after acquiring an additional 810 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. lifted its stake in Bancorp by 1.4% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 170,243 shares of the bank's stock worth $9,108,000 after acquiring an additional 2,275 shares during the period. Institutional investors own 96.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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. StockNews.com lowered shares of Bancorp from a "hold" rating to a "sell" rating in a report on Sunday, January 12th. Piper Sandler upped their target price on Bancorp from $61.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on Bancorp from $66.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, February 3rd.

Bancorp Stock Down 2.8 %

Shares of NASDAQ:TBBK traded down $1.70 during trading on Thursday, reaching $58.32. The stock had a trading volume of 362,267 shares, compared to its average volume of 471,199. The firm's 50-day simple moving average is $56.14 and its 200 day simple moving average is $53.89. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $65.84. The company has a market capitalization of $2.80 billion, a P/E ratio of 13.56 and a beta of 1.49.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating 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%. As a group, research analysts expect 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.