Franklin Resources Inc. Grows Position in The Bancorp, Inc. (NASDAQ:TBBK)

Franklin Resources Inc. increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 952,277 shares of the bank’s stock after buying an additional 26,907 shares during the quarter. Franklin Resources Inc.’s holdings in Bancorp were worth $50,118,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in Bancorp by 35.9% in the 4th quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank’s stock worth $125,971,000 after buying an additional 631,744 shares in the last quarter. Emerald Advisers LLC purchased a new stake in shares of Bancorp in the fourth quarter worth $17,692,000. JPMorgan Chase & Co. raised its holdings in Bancorp by 70.3% during the fourth quarter. JPMorgan Chase & Co. now owns 653,444 shares of the bank’s stock valued at $34,391,000 after acquiring an additional 269,660 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Bancorp by 33.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 715,952 shares of the bank’s stock worth $37,681,000 after purchasing an additional 180,586 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Bancorp during the fourth quarter worth $4,120,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Trading Down 10.3 %

Shares of NASDAQ:TBBK opened at $43.92 on Friday. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $65.84. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $55.73 and a two-hundred day moving average of $54.81. The company has a market capitalization of $2.11 billion, a PE ratio of 10.21 and a beta of 1.59.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analyst Weigh In

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

Bancorp Company 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.