GAMMA Investing LLC Purchases 327 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

GAMMA Investing LLC boosted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 42.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,099 shares of the bank’s stock after buying an additional 327 shares during the period. GAMMA Investing LLC’s holdings in Bancorp were worth $59,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after buying an additional 234 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Bancorp by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock worth $2,251,000 after purchasing an additional 302 shares during the last quarter. Legend Financial Advisors Inc. lifted 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 purchasing an additional 380 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Bancorp by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank’s stock worth $815,000 after purchasing an additional 476 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Bancorp by 1.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock valued at $1,157,000 after purchasing an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

TBBK opened at $58.39 on Thursday. 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’s 50 day simple moving average is $50.77 and its 200 day simple moving average is $41.68. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 15.87 and a beta of 1.45. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $58.74.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, July 25th. The bank reported $1.07 earnings per share (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 firm had revenue of $124.52 million during the quarter, compared to the consensus estimate of $127.45 million. As a group, analysts predict that The Bancorp, Inc. will post 4.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TBBK has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler lifted their target price 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.

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.