Sheets Smith Investment Management Makes New Investment in The Bancorp, Inc. (NASDAQ:TBBK)

Sheets Smith Investment Management acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 23,777 shares of the bank’s stock, valued at approximately $1,251,000.

A number of other hedge funds have also recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Bancorp by 35.9% during the 4th quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank’s stock valued at $125,971,000 after acquiring an additional 631,744 shares during the period. Geode Capital Management LLC grew its position in shares of Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock valued at $72,914,000 after acquiring an additional 6,459 shares during the period. Franklin Resources Inc. grew its position in shares of Bancorp by 18.6% during the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after acquiring an additional 144,867 shares during the period. JPMorgan Chase & Co. grew its position in shares of Bancorp by 132.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock valued at $20,532,000 after acquiring an additional 219,020 shares during the period. Finally, Emerald Advisers LLC bought a new stake in shares of Bancorp during the 4th quarter valued at $17,692,000. Institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TBBK. Piper Sandler boosted their price objective on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Raymond James reissued an “outperform” rating and set a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd.

Bancorp Trading Up 0.9 %

Shares of Bancorp stock opened at $54.93 on Monday. The company has a market capitalization of $2.64 billion, a P/E ratio of 12.77 and a beta of 1.59. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The company has a fifty day moving average of $56.16 and a 200 day moving average of $54.63.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

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.