Vestcor Inc Has $718,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Vestcor Inc increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 300.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,641 shares of the bank’s stock after purchasing 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock worth $72,914,000 after purchasing an additional 6,459 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Bancorp by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after buying an additional 9,748 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after buying an additional 56,959 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bancorp Stock Performance

TBBK opened at $51.84 on Monday. The stock has a market cap of $2.49 billion, a PE ratio of 12.06 and a beta of 1.59. 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 1 year low of $29.92 and a 1 year high of $65.84. The stock’s 50 day simple moving average is $55.97 and its 200-day simple moving average is $54.54.

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

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.