Northern Trust Corp Has $31.38 Million Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Northern Trust Corp cut its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 596,222 shares of the bank’s stock after selling 806 shares during the quarter. Northern Trust Corp’s holdings in Bancorp were worth $31,379,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Aquatic Capital Management LLC boosted its position in shares of Bancorp by 293.4% during the fourth quarter. Aquatic Capital Management LLC now owns 24,801 shares of the bank’s stock worth $1,305,000 after buying an additional 18,496 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Bancorp in the 4th quarter valued at about $1,087,000. Jump Financial LLC increased its holdings in shares of Bancorp by 197.7% during the 4th quarter. Jump Financial LLC now owns 28,905 shares of the bank’s stock worth $1,521,000 after acquiring an additional 19,194 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Bancorp in the fourth quarter valued at about $3,474,000. Finally, Invesco Ltd. raised its holdings in Bancorp by 26.2% in the 4th quarter. Invesco Ltd. now owns 2,246,836 shares of the bank’s stock valued at $118,251,000 after acquiring an additional 466,795 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Stock Performance

TBBK opened at $51.44 on Friday. 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 52-week low of $31.34 and a 52-week high of $65.84. The firm has a market cap of $2.47 billion, a P/E ratio of 11.96 and a beta of 1.31. The business’s fifty day moving average is $49.54 and its 200-day moving average is $53.53.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). The firm had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. Sell-side analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TBBK shares. Keefe, Bruyette & Woods lowered their target price on Bancorp from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Finally, Raymond James reaffirmed an “outperform” rating and set a $67.00 price target (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd.

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.