American Century Companies Inc. Buys 70,178 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

American Century Companies Inc. raised its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,603,423 shares of the bank’s stock after acquiring an additional 70,178 shares during the period. American Century Companies Inc. owned about 3.07% of Bancorp worth $60,545,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TBBK. GAMMA Investing LLC boosted its stake in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Bancorp by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock valued at $2,251,000 after buying an additional 302 shares in the last quarter. Legend Financial Advisors Inc. grew its stake in Bancorp by 2.1% during the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after buying an additional 380 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Bancorp by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank’s stock worth $815,000 after buying an additional 476 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Bancorp by 1.6% in the second quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock valued at $1,157,000 after acquiring an additional 492 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Up 4.0 %

NASDAQ TBBK opened at $49.49 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $53.48. The stock has a market capitalization of $2.59 billion, a P/E ratio of 13.45 and a beta of 1.45. The stock has a fifty day moving average of $48.29 and a 200-day moving average of $39.11.

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

Wall Street Analysts Forecast Growth

TBBK has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th.

About Bancorp

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.