Victory Capital Management Inc. Increases Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Victory Capital Management Inc. grew its position in The Bancorp, Inc. (NASDAQ:TBBK) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,290 shares of the bank’s stock after acquiring an additional 25,731 shares during the quarter. Victory Capital Management Inc.’s holdings in Bancorp were worth $14,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Stieven Capital Advisors L.P. purchased a new stake in shares of Bancorp in the second quarter valued at $1,322,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bancorp by 7.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,331 shares of the bank’s stock worth $466,000 after purchasing an additional 832 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Bancorp by 4.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 139,933 shares of the bank’s stock worth $5,282,000 after purchasing an additional 5,482 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Bancorp by 6.0% in the second quarter. Whittier Trust Co. now owns 261,798 shares of the bank’s stock worth $9,883,000 after purchasing an additional 14,884 shares during the last quarter. Finally, Legend Financial Advisors Inc. grew its holdings in shares of Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 4.0 %

Bancorp stock opened at $49.49 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.42 billion, a P/E ratio of 13.37 and a beta of 1.45. The business has a fifty day moving average of $48.06 and a two-hundred day moving average of $39.12. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $53.48.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Bancorp had a net margin of 31.52% and a return on equity of 26.81%. The company had revenue of $124.52 million for the quarter, compared to the consensus estimate of $127.45 million. On average, analysts forecast that The Bancorp, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on TBBK shares. Piper Sandler upped their price target on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

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.