Cerity Partners LLC Reduces Position in The Bancorp, Inc. (NASDAQ:TBBK)

Cerity Partners LLC reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,538 shares of the bank’s stock after selling 1,366 shares during the period. Cerity Partners LLC owned approximately 0.05% of Bancorp worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TBBK. FMR LLC boosted its holdings in shares of Bancorp by 2.0% during the 4th quarter. FMR LLC now owns 4,306,715 shares of the bank’s stock worth $226,662,000 after purchasing an additional 85,908 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Bancorp by 3.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock worth $635,000 after buying an additional 408 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Bancorp in the 4th quarter valued at $213,000. Arete Wealth Advisors LLC increased its stake in shares of Bancorp by 2.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock worth $508,000 after acquiring an additional 242 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Bancorp by 2.9% during the 4th quarter. Franklin Resources Inc. now owns 952,277 shares of the bank’s stock worth $50,118,000 after acquiring an additional 26,907 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Performance

Shares of Bancorp stock opened at $45.60 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 10.60 and a beta of 1.26. The business has a 50-day moving average of $52.66 and a 200 day moving average of $54.23. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84.

Bancorp (NASDAQ:TBBK) last announced 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%. As a group, sell-side analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analysts Set New Price Targets

TBBK has been the topic of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and set a $67.00 target price (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Piper Sandler increased their price objective 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 lifted their target price on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded 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.