Elgethun Capital Management Trims Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Elgethun Capital Management trimmed its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 52.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 108,821 shares of the bank’s stock after selling 120,655 shares during the quarter. Bancorp accounts for approximately 1.4% of Elgethun Capital Management’s investment portfolio, making the stock its 19th biggest holding. Elgethun Capital Management’s holdings in Bancorp were worth $5,727,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TBBK. Smartleaf Asset Management LLC grew 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 purchasing an additional 489 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Bancorp in the 4th quarter valued at about $45,000. Point72 DIFC Ltd bought a new stake in shares of Bancorp during the 3rd quarter valued at about $54,000. National Bank of Canada FI bought a new position in shares of Bancorp in the third quarter worth approximately $77,000. Finally, Parkside Financial Bank & Trust raised its stake in Bancorp by 39.3% in 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 in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Down 10.3 %

Shares of NASDAQ:TBBK opened at $43.92 on Monday. The stock’s 50-day moving average is $55.73 and its 200 day moving average is $54.84. The company has a market cap of $2.11 billion, a PE ratio of 10.21 and a beta of 1.26. 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 Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $65.84.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 30th. The bank reported $1.15 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%. Sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analyst Weigh In

TBBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Raymond James reiterated an “outperform” rating and set a $67.00 price objective (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their price target on shares of Bancorp from $61.00 to $64.00 and gave the stock 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.