AlphaQuest LLC Reduces Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

AlphaQuest LLC reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 75.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,971 shares of the bank’s stock after selling 8,990 shares during the period. AlphaQuest LLC’s holdings in Bancorp were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after acquiring an additional 489 shares during the last quarter. R Squared Ltd purchased a new stake in Bancorp during the fourth quarter worth $45,000. Point72 DIFC Ltd purchased a new stake in Bancorp during the third quarter worth $54,000. Advisors Asset Management Inc. boosted its holdings in Bancorp by 114.4% during the third quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in Bancorp during the third quarter worth $77,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TBBK has been the topic of a number of recent analyst reports. Raymond James reissued an “outperform” rating and set a $67.00 price target (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Keefe, Bruyette & Woods increased their price target on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Piper Sandler increased their price target on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd.

Bancorp Stock Performance

NASDAQ:TBBK opened at $52.71 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The company has a fifty day moving average of $55.96 and a two-hundred day moving average of $54.55. The stock has a market capitalization of $2.53 billion, a PE ratio of 12.26 and a beta of 1.59. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. As a group, research analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

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.