Dark Forest Capital Management LP Buys 941 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Dark Forest Capital Management LP lifted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,696 shares of the bank’s stock after purchasing an additional 941 shares during the period. Dark Forest Capital Management LP’s holdings in Bancorp were worth $404,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Jupiter Asset Management Ltd. increased its holdings in Bancorp by 71.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after acquiring an additional 164,855 shares during the last quarter. Marshall Wace LLP grew its stake in Bancorp by 39.8% in the 2nd quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock valued at $12,747,000 after buying an additional 96,072 shares in the last quarter. Jane Street Group LLC raised its holdings in 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. grew its holdings in 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 buying an additional 70,178 shares in the last quarter. Finally, Stieven Capital Advisors L.P. bought a new stake in shares of Bancorp during the second quarter valued at about $1,322,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 1.5 %

TBBK stock opened at $52.59 on Friday. The company’s 50 day moving average is $49.90 and its 200 day moving average is $39.96. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 14.29 and a beta of 1.45. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $54.97.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Bancorp had a return on equity of 26.81% and a net margin of 31.52%. The company had revenue of $124.52 million during the quarter, compared to the consensus estimate of $127.45 million. Sell-side analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price target (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th.

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.