Kennedy Capital Management LLC Has $14.35 Million Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Kennedy Capital Management LLC reduced its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 9.0% in the 4th quarter, according to the company in its most recent filing with the 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 have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock worth $40,000 after buying an additional 489 shares during the period. R Squared Ltd bought a new stake in shares of Bancorp during the fourth quarter valued at approximately $45,000. National Bank of Canada FI bought a new stake in shares of Bancorp during the third quarter valued at approximately $77,000. Parkside Financial Bank & Trust increased its position in shares of Bancorp by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock valued at $79,000 after purchasing an additional 424 shares during the period. Finally, KBC Group NV increased its position in shares of Bancorp by 40.9% during the fourth quarter. KBC Group NV now owns 2,137 shares of the bank’s stock valued at $112,000 after purchasing an additional 620 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bancorp Trading Up 11.8 %

Shares of TBBK opened at $46.99 on Thursday. 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 Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $65.84. The firm has a market capitalization of $2.26 billion, a PE ratio of 10.93 and a beta of 1.26. The stock’s fifty day simple moving average is $54.40 and its 200-day simple moving average is $54.49.

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

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.