Vestcor Inc raised its stake in The Bancorp, Inc. (NASDAQ:TBBK – Free Report) by 300.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,641 shares of the bank’s stock after acquiring an additional 10,235 shares during the quarter. Vestcor Inc’s holdings in Bancorp were worth $718,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of TBBK. US Bancorp DE bought a new stake in shares of Bancorp during the third quarter worth $83,000. Natixis Advisors LLC grew its holdings in shares of Bancorp by 2.3% during the third quarter. Natixis Advisors LLC now owns 30,551 shares of the bank’s stock worth $1,634,000 after purchasing an additional 673 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Bancorp during the third quarter worth $943,000. Napa Wealth Management bought a new stake in shares of Bancorp during the third quarter worth $358,000. Finally, Pathstone Holdings LLC grew its holdings in shares of Bancorp by 53.5% during the third quarter. Pathstone Holdings LLC now owns 32,126 shares of the bank’s stock worth $1,719,000 after purchasing an additional 11,197 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.
Bancorp Stock Up 2.6 %
Bancorp stock opened at $51.84 on Monday. The stock has a market capitalization of $2.49 billion, a PE ratio of 12.06 and a beta of 1.59. 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 company has a 50 day moving average of $55.97 and a 200-day moving average of $54.54.
Analyst Upgrades and Downgrades
TBBK has been the topic of several research analyst reports. Piper Sandler increased 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. 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 note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th.
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.
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