Whittier Trust Co. Increases Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Whittier Trust Co. lifted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,666 shares of the bank's stock after buying an additional 5,309 shares during the quarter. Whittier Trust Co. owned about 0.27% of Bancorp worth $6,771,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TBBK. Smartleaf Asset Management LLC grew its stake in 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. R Squared Ltd acquired a new stake in shares of Bancorp during the 4th quarter worth approximately $45,000. Point72 DIFC Ltd bought a new stake in shares of Bancorp in the 3rd quarter valued at $54,000. Advisors Asset Management Inc. increased its stake in shares of 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 acquiring an additional 741 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Bancorp during the 3rd quarter valued at $77,000. Institutional investors own 96.22% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Bancorp Stock Down 1.3 %

Shares of NASDAQ TBBK traded down $0.74 during mid-day trading on Tuesday, reaching $56.33. 382,643 shares of the company's stock traded hands, compared to its average volume of 565,733. 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 business has a 50-day simple moving average of $56.28 and a 200 day simple moving average of $54.68. The stock has a market cap of $2.71 billion, a P/E ratio of 13.10 and a beta of 1.59. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $65.84.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly 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%. On average, 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.