ProShare Advisors LLC Has $299,000 Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

ProShare Advisors LLC trimmed its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 23.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,924 shares of the bank’s stock after selling 2,493 shares during the period. ProShare Advisors LLC’s holdings in Bancorp were worth $299,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP lifted its holdings in shares of Bancorp by 256.2% during the 1st quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock worth $782,000 after acquiring an additional 16,812 shares during the period. Jane Street Group LLC increased its stake in shares of Bancorp by 129.0% in the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Bancorp by 63.6% during the 4th quarter. Rafferty Asset Management LLC now owns 73,827 shares of the bank’s stock worth $2,847,000 after buying an additional 28,699 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of Bancorp during the 1st quarter worth $1,008,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Bancorp by 51.6% during the 1st quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock worth $2,404,000 after buying an additional 24,453 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Bancorp Stock Performance

Shares of TBBK stock opened at $52.23 on Friday. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.19 and a beta of 1.45. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $49.99 and its 200-day moving average price is $40.31. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $54.97.

Bancorp (NASDAQ:TBBK) last posted its 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 business had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Equities research analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current year.

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.