Kennedy Capital Management LLC Cuts Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Kennedy Capital Management LLC reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,667 shares of the bank’s stock after selling 26,941 shares during the period. Kennedy Capital Management LLC owned about 0.57% of Bancorp worth $14,350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. increased its position in shares of Bancorp by 35.9% during the fourth quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank’s stock worth $125,971,000 after purchasing an additional 631,744 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Bancorp by 26.2% during the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank’s stock worth $118,251,000 after buying an additional 466,795 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Bancorp during the fourth quarter worth about $17,692,000. JPMorgan Chase & Co. grew its holdings in shares of Bancorp by 70.3% during the fourth quarter. JPMorgan Chase & Co. now owns 653,444 shares of the bank’s stock worth $34,391,000 after buying an additional 269,660 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Bancorp by 33.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 715,952 shares of the bank’s stock worth $37,681,000 after buying an additional 180,586 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Piper Sandler boosted their price objective on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, 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.

Bancorp Trading Up 11.8 %

Shares of Bancorp stock opened at $46.99 on Thursday. The stock has a market capitalization of $2.26 billion, a P/E ratio of 10.93 and a beta of 1.26. 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 simple moving average of $54.40 and a 200 day simple moving average of $54.49. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $65.84.

Bancorp (NASDAQ:TBBK) last announced its 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%. Research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share 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.