Kennedy Capital Management LLC Lowers Position in The Bancorp, Inc. (NASDAQ:TBBK)

Kennedy Capital Management LLC cut its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 272,667 shares of the bank’s stock after selling 26,941 shares during the quarter. Kennedy Capital Management LLC’s holdings in Bancorp were worth $14,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TBBK. Arete Wealth Advisors LLC grew its stake in Bancorp by 2.6% in the fourth quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock worth $508,000 after purchasing an additional 242 shares during the period. Arcus Capital Partners LLC grew its position in shares of Bancorp by 5.0% during the fourth quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after purchasing an additional 315 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Bancorp by 3.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock valued at $635,000 after buying an additional 408 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Bancorp by 8.1% in the 4th quarter. Bank of Montreal Can now owns 5,565 shares of the bank’s stock valued at $293,000 after purchasing an additional 418 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Bancorp by 12.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,781 shares of the bank’s stock worth $199,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK stock opened at $46.99 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $65.84. The company’s 50-day simple moving average is $54.40 and its 200-day simple moving average is $54.49. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 10.93 and a beta of 1.26.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. Equities analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About Bancorp

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.