Proficio Capital Partners LLC Takes $651,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Proficio Capital Partners LLC bought a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,368 shares of the bank’s stock, valued at approximately $651,000.

Several other hedge funds have also recently bought and sold shares of the business. US Bancorp DE acquired a new stake in Bancorp in the 3rd quarter valued at $83,000. Sheets Smith Wealth Management purchased a new stake in shares of Bancorp in the third quarter worth about $376,000. State of New Jersey Common Pension Fund D purchased a new position in Bancorp in the 3rd quarter worth approximately $2,080,000. Lisanti Capital Growth LLC acquired a new position in shares of Bancorp during the third quarter worth $6,100,000. Finally, Versor Investments LP purchased a new position in shares of Bancorp in the third quarter valued at $514,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TBBK. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James reaffirmed an “outperform” rating and issued a $67.00 target price (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Piper Sandler increased their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd.

Bancorp Price Performance

Shares of TBBK opened at $51.58 on Monday. 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 Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The stock has a 50 day moving average of $56.19 and a 200-day moving average of $54.55. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 12.00 and a beta of 1.59.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) 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, 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.