Franklin Resources Inc. Has $50.12 Million Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Franklin Resources Inc. grew its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 952,277 shares of the bank’s stock after buying an additional 26,907 shares during the quarter. Franklin Resources Inc. owned 1.99% of Bancorp worth $50,118,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TBBK. Lord Abbett & CO. LLC lifted its stake in Bancorp by 23.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after acquiring an additional 56,959 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares during the period. Principal Financial Group Inc. grew its stake in Bancorp by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock valued at $16,032,000 after buying an additional 9,748 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Bancorp by 111.9% during the fourth quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank’s stock worth $638,000 after purchasing an additional 5,845 shares during the period. Finally, Stifel Financial Corp bought a new position in Bancorp during the 3rd quarter worth $729,000. Institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bancorp Stock Performance

Shares of TBBK opened at $43.92 on Friday. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $65.84. The stock’s fifty day moving average price is $55.73 and its two-hundred day moving average price is $54.81. The firm has a market cap of $2.11 billion, a PE ratio of 10.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping 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%. On average, equities research analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

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.