Susquehanna Fundamental Investments LLC Acquires New Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Susquehanna Fundamental Investments LLC bought a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,368 shares of the bank’s stock, valued at approximately $391,000.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of Bancorp by 28.2% in the fourth quarter. Franklin Resources Inc. now owns 33,608 shares of the bank’s stock valued at $1,296,000 after purchasing an additional 7,389 shares during the period. Rafferty Asset Management LLC raised its stake in shares of Bancorp by 63.6% in the fourth quarter. Rafferty Asset Management LLC now owns 73,827 shares of the bank’s stock valued at $2,847,000 after acquiring an additional 28,699 shares in the last quarter. Orchard Capital Management LLC boosted its holdings in Bancorp by 4.8% in the fourth quarter. Orchard Capital Management LLC now owns 414,301 shares of the bank’s stock valued at $15,975,000 after purchasing an additional 18,824 shares during the period. Goldman Sachs Group Inc. grew its stake in Bancorp by 4.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 482,025 shares of the bank’s stock worth $18,587,000 after purchasing an additional 19,932 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in Bancorp by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 227,545 shares of the bank’s stock worth $8,774,000 after purchasing an additional 817 shares during the period. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of TBBK opened at $52.23 on Friday. The firm has a fifty day moving average price of $49.99 and a 200 day moving average price of $40.31. The stock has a market cap of $2.56 billion, a PE ratio of 14.19 and a beta of 1.45. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $54.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84.

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

Analyst Upgrades and Downgrades

TBBK has been the subject of a number of analyst reports. Piper Sandler boosted 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th. Finally, StockNews.com lowered 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.