The Bancorp, Inc. (NASDAQ:TBBK) Stock Position Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in The Bancorp, Inc. (NASDAQ:TBBK) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,781 shares of the bank’s stock after buying an additional 420 shares during the period. EverSource Wealth Advisors LLC’s holdings in Bancorp were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TBBK. JPMorgan Chase & Co. raised its stake in shares of Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Bancorp during the fourth quarter worth $4,120,000. Segall Bryant & Hamill LLC raised its position in shares of Bancorp by 42.3% during the third quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after purchasing an additional 70,768 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bancorp during the fourth quarter worth $3,474,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 2.6 %

NASDAQ:TBBK opened at $51.84 on Monday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.06 and a beta of 1.59. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $65.84. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $55.97 and its 200 day moving average price is $54.54.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. On average, sell-side analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About Bancorp

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.