Swiss National Bank Reduces Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Swiss National Bank lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 91,500 shares of the bank’s stock after selling 4,500 shares during the quarter. Swiss National Bank’s holdings in Bancorp were worth $4,816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new stake in shares of Bancorp in the third quarter valued at $514,000. Lord Abbett & CO. LLC grew its holdings in Bancorp by 23.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after purchasing an additional 56,959 shares during the last quarter. JPMorgan Chase & Co. raised its position in Bancorp by 132.9% in the 3rd 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. Principal Financial Group Inc. lifted its stake in Bancorp by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after purchasing an additional 9,748 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its position in shares of Bancorp by 53.5% during the third quarter. Pathstone Holdings LLC now owns 32,126 shares of the bank’s stock valued at $1,719,000 after buying an additional 11,197 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

TBBK opened at $57.07 on Tuesday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 13.27 and a beta of 1.59. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $65.84. The business’s fifty day simple moving average is $56.28 and its 200-day simple moving average is $54.68.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.