Kendall Capital Management Acquires New Position in The Bancorp, Inc. (NASDAQ:TBBK)

Kendall Capital Management acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK) in the second quarter, HoldingsChannel.com reports. The fund acquired 9,390 shares of the bank’s stock, valued at approximately $355,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its position in shares of Bancorp by 71.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock valued at $13,270,000 after acquiring an additional 164,855 shares during the period. Jane Street Group LLC lifted its position in shares of Bancorp by 129.0% during the 1st quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after acquiring an additional 70,361 shares during the period. American Century Companies Inc. lifted its position in shares of Bancorp by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after acquiring an additional 70,178 shares during the period. Stieven Capital Advisors L.P. acquired a new stake in shares of Bancorp during the 2nd quarter valued at approximately $1,322,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Bancorp during the 4th quarter valued at approximately $1,304,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TBBK. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Piper Sandler lifted their price objective on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th.

Bancorp Stock Up 3.3 %

TBBK stock opened at $54.21 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 14.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $54.97. The company has a 50 day moving average price of $49.27 and a two-hundred day moving average price of $39.38.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data 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 net margin of 31.52% and a return on equity of 26.81%. The company had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. As a group, sell-side analysts expect that The Bancorp, Inc. will post 4.42 EPS for the current year.

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.