Sheets Smith Investment Management Acquires Shares of 23,777 The Bancorp, Inc. (NASDAQ:TBBK)

Sheets Smith Investment Management acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 23,777 shares of the bank’s stock, valued at approximately $1,251,000.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Bancorp by 35.9% during the fourth quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank’s stock valued at $125,971,000 after purchasing an additional 631,744 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after purchasing an additional 6,459 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Bancorp by 18.6% during the third quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after purchasing an additional 144,867 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 last quarter. Finally, Emerald Advisers LLC purchased a new position in shares of Bancorp during the fourth quarter valued at approximately $17,692,000. 96.22% of the stock is owned by institutional investors.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $54.93 on Monday. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $65.84. The firm has a market cap of $2.64 billion, a P/E ratio of 12.77 and a beta of 1.59. The company has a 50 day moving average of $56.16 and a 200 day moving average of $54.63. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Bancorp Company 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.