Proficio Capital Partners LLC Buys Shares of 12,368 The Bancorp, Inc. (NASDAQ:TBBK)

Proficio Capital Partners LLC bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the fourth quarter, Holdings Channel reports. The institutional investor bought 12,368 shares of the bank’s stock, valued at approximately $651,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TBBK. Smartleaf Asset Management LLC lifted its position in shares of Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock worth $40,000 after buying an additional 489 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Bancorp in the fourth quarter worth about $45,000. Point72 DIFC Ltd acquired a new stake in shares of Bancorp in the third quarter worth about $54,000. Advisors Asset Management Inc. lifted its position in shares of Bancorp by 114.4% in 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 during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Bancorp in the third quarter worth about $77,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

Shares of Bancorp stock opened at $54.93 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The company has a market cap of $2.64 billion, a PE ratio of 12.77 and a beta of 1.59. The firm has a fifty day moving average price of $56.16 and a two-hundred day moving average price of $54.63. 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 released its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. Analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TBBK shares. Piper Sandler boosted their price target on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Raymond James reaffirmed an “outperform” rating and issued a $67.00 price target (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods raised their target price on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

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.