AlphaQuest LLC Sells 8,990 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

AlphaQuest LLC lowered its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 75.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,971 shares of the bank’s stock after selling 8,990 shares during the quarter. AlphaQuest LLC’s holdings in Bancorp were worth $156,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Natixis Advisors LLC raised its stake in shares of Bancorp by 2.3% during the 3rd quarter. Natixis Advisors LLC now owns 30,551 shares of the bank’s stock worth $1,634,000 after acquiring an additional 673 shares in the last quarter. LMR Partners LLP bought a new position in shares of Bancorp during the 3rd quarter worth approximately $943,000. Napa Wealth Management bought a new position in shares of Bancorp during the 3rd quarter worth approximately $358,000. Pathstone Holdings LLC raised its stake in shares of Bancorp by 53.5% during the 3rd quarter. Pathstone Holdings LLC now owns 32,126 shares of the bank’s stock worth $1,719,000 after acquiring an additional 11,197 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in shares of Bancorp by 42.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after acquiring an additional 70,768 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

TBBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective 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. StockNews.com upgraded shares of 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 previously from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd.

Bancorp Stock Up 1.7 %

NASDAQ:TBBK opened at $52.71 on Tuesday. The company has a market cap of $2.53 billion, a PE ratio of 12.26 and a beta of 1.59. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month 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 company’s 50 day moving average is $55.96 and its two-hundred day moving average is $54.55.

Bancorp (NASDAQ:TBBK) last released its 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%. Analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

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.