Invesco Ltd. Has $118.25 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Invesco Ltd. lifted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 26.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,246,836 shares of the bank's stock after acquiring an additional 466,795 shares during the period. Invesco Ltd. owned approximately 4.69% of Bancorp worth $118,251,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in Bancorp by 191.8% in 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 in the last quarter. R Squared Ltd acquired a new position in shares of Bancorp in the 4th quarter worth approximately $45,000. National Bank of Canada FI bought a new position in shares of Bancorp during the 3rd quarter worth approximately $77,000. Parkside Financial Bank & Trust boosted its stake in Bancorp by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank's stock valued at $79,000 after buying an additional 424 shares in the last quarter. Finally, KBC Group NV grew its position in Bancorp by 40.9% in the fourth quarter. KBC Group NV now owns 2,137 shares of the bank's stock valued at $112,000 after acquiring an additional 620 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Trading Up 1.8 %

TBBK stock traded up $0.82 during midday trading on Tuesday, reaching $46.06. The stock had a trading volume of 390,795 shares, compared to its average volume of 596,377. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 10.71 and a beta of 1.26. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $65.84. 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 business has a fifty day simple moving average of $52.98 and a two-hundred day simple moving average of $54.29.

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Bancorp (NASDAQ:TBBK - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS 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%. As a group, research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.