Nantahala Capital Management LLC Makes New Investment in The Bancorp, Inc. (NASDAQ:TBBK)

Nantahala Capital Management LLC purchased a new position in The Bancorp, Inc. (NASDAQ:TBBK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 337,846 shares of the bank’s stock, valued at approximately $12,757,000. Bancorp accounts for about 0.7% of Nantahala Capital Management LLC’s investment portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank’s stock worth $1,056,000 after buying an additional 234 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after purchasing an additional 291 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Bancorp by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock worth $2,251,000 after buying an additional 302 shares during the period. Legend Financial Advisors Inc. lifted its position in shares of Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after buying an additional 380 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in Bancorp by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank’s stock valued at $815,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

Bancorp stock opened at $53.50 on Tuesday. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $54.97. 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 firm has a 50-day moving average price of $49.97 and a 200-day moving average price of $40.12. The firm has a market capitalization of $2.62 billion, a PE ratio of 14.54 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). The firm had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. As a group, equities research analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TBBK shares. Piper Sandler raised their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 price target (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th.

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.