The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,804 shares of the bank’s stock after selling 1,312 shares during the quarter. Amalgamated Bank’s holdings in Bancorp were worth $597,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in shares of Bancorp by 28.2% in the fourth quarter. Franklin Resources Inc. now owns 33,608 shares of the bank’s stock valued at $1,296,000 after purchasing an additional 7,389 shares during the period. US Bancorp DE grew its stake in shares of Bancorp by 691.0% in the 4th quarter. US Bancorp DE now owns 25,717 shares of the bank’s stock valued at $992,000 after buying an additional 22,466 shares during the period. Alberta Investment Management Corp increased its holdings in shares of Bancorp by 21.9% during the 4th quarter. Alberta Investment Management Corp now owns 66,551 shares of the bank’s stock worth $2,566,000 after buying an additional 11,939 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Bancorp during the 4th quarter valued at approximately $1,304,000. Finally, Rafferty Asset Management LLC lifted its holdings in Bancorp by 63.6% in the fourth quarter. Rafferty Asset Management LLC now owns 73,827 shares of the bank’s stock valued at $2,847,000 after acquiring an additional 28,699 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TBBK. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler boosted their target price on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

Bancorp Stock Up 1.5 %

Shares of NASDAQ:TBBK opened at $52.59 on Friday. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $54.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84. The stock has a market cap of $2.57 billion, a P/E ratio of 14.29 and a beta of 1.45. The firm has a fifty day moving average price of $49.90 and a 200 day moving average price of $39.96.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The company had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Sell-side analysts predict that The Bancorp, Inc. will post 4.42 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.