Prudential Financial Inc. Reduces Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Prudential Financial Inc. reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,004 shares of the bank’s stock after selling 2,252 shares during the period. Prudential Financial Inc.’s holdings in Bancorp were worth $3,684,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Arcus Capital Partners LLC increased its stake in shares of Bancorp by 5.0% in the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after purchasing an additional 315 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Bancorp by 12.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,781 shares of the bank’s stock worth $199,000 after buying an additional 420 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Bancorp by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock worth $79,000 after buying an additional 424 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Bancorp by 191.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after buying an additional 489 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Bancorp by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,403 shares of the bank’s stock valued at $284,000 after acquiring an additional 539 shares during the period. 96.22% of the stock is currently owned by institutional investors.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $53.54 on Wednesday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 12.45 and a beta of 1.59. The firm has a fifty day moving average price of $56.10 and a 200 day moving average price of $54.91. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Piper Sandler lifted their target price 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. Raymond James reiterated an “outperform” rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

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.