Livforsakringsbolaget Skandia Omsesidigt Acquires 5,800 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 24.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,800 shares of the bank’s stock after acquiring an additional 5,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.06% of Bancorp worth $1,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Bancorp by 42.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,099 shares of the bank’s stock worth $59,000 after purchasing an additional 327 shares during the period. Nantahala Capital Management LLC acquired a new stake in Bancorp during the second quarter worth about $12,757,000. Algert Global LLC increased its stake in Bancorp by 67.2% during the second quarter. Algert Global LLC now owns 66,200 shares of the bank’s stock valued at $2,500,000 after acquiring an additional 26,618 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Bancorp in the 2nd quarter valued at approximately $391,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after acquiring an additional 234 shares during the period. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

NASDAQ TBBK opened at $55.13 on Friday. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $55.67. The company has a 50 day moving average of $50.39 and a 200-day moving average of $41.30. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 14.36 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The business had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. On average, equities analysts forecast that The Bancorp, Inc. will post 4.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

TBBK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler lifted their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

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.