The Bancorp, Inc. (NASDAQ:TBBK) Stake Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 18.4% in the fourth quarter, HoldingsChannel reports. The fund owned 14,598 shares of the bank’s stock after buying an additional 2,267 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bancorp were worth $768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TBBK. JPMorgan Chase & Co. boosted its holdings in shares of Bancorp by 132.9% during the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares during the period. Franklin Resources Inc. lifted its position in Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after buying an additional 144,867 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Bancorp during the 4th quarter valued at $4,120,000. Raymond James Financial Inc. purchased a new position in shares of Bancorp during the 4th quarter valued at $3,474,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Bancorp by 23.1% in the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after acquiring an additional 56,959 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

TBBK opened at $54.93 on Friday. 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 market cap of $2.64 billion, a PE ratio of 12.77 and a beta of 1.59. The stock has a 50-day moving average of $56.16 and a 200-day moving average of $54.57. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $65.84.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Raymond James reiterated 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 upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Piper Sandler lifted their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

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.