UMB Bank n.a. Reduces Stake in The Bancorp, Inc. (NASDAQ:TBBK)

UMB Bank n.a. lessened its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 6.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,160 shares of the bank’s stock after selling 362 shares during the quarter. UMB Bank n.a.’s holdings in Bancorp were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after acquiring an additional 291 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Bancorp by 345.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after purchasing an additional 1,272 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in Bancorp during the second quarter valued at $216,000. Arcus Capital Partners LLC bought a new position in Bancorp in the 1st quarter worth about $221,000. Finally, SG Americas Securities LLC raised its holdings in shares of Bancorp by 15.1% in the 1st quarter. SG Americas Securities LLC now owns 6,689 shares of the bank’s stock valued at $224,000 after acquiring an additional 877 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TBBK. StockNews.com lowered Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th. Finally, Piper Sandler raised their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th.

Bancorp Trading Up 4.4 %

NASDAQ TBBK opened at $55.13 on Friday. The firm has a market cap of $2.70 billion, a PE ratio of 14.36 and a beta of 1.45. The Bancorp, Inc. has a 1-year low of $29.92 and a 1-year high of $55.67. The stock has a 50-day moving average of $50.39 and a 200-day moving average of $41.30. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that The Bancorp, Inc. will post 4.37 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.