Intech Investment Management LLC Boosts Position in The Bancorp, Inc. (NASDAQ:TBBK)

Intech Investment Management LLC boosted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 33.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,207 shares of the bank’s stock after acquiring an additional 7,016 shares during the quarter. Intech Investment Management LLC owned 0.06% of Bancorp worth $1,485,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TBBK. JPMorgan Chase & Co. grew its holdings in Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after purchasing an additional 219,020 shares during the period. Franklin Resources Inc. boosted its stake in shares of Bancorp by 18.6% in the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after acquiring an additional 144,867 shares during the period. Edgestream Partners L.P. bought a new position in shares of Bancorp in the fourth quarter worth about $4,120,000. Raymond James Financial Inc. bought a new position in shares of Bancorp in the fourth quarter worth about $3,474,000. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after acquiring an additional 56,959 shares during the period. Institutional investors own 96.22% of the company’s stock.

Bancorp Trading Up 0.9 %

Shares of TBBK stock opened at $54.93 on Friday. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $65.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $56.16 and its two-hundred day simple moving average is $54.57. The company has a market cap of $2.64 billion, a PE ratio of 12.77 and a beta of 1.59.

Bancorp (NASDAQ:TBBK) last issued 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%. Research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TBBK. Raymond James reaffirmed an “outperform” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Piper Sandler increased their price target on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

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.