Jupiter Asset Management Ltd. Raises Position in The Bancorp, Inc. (NASDAQ:TBBK)

Jupiter Asset Management Ltd. lifted its position in The Bancorp, Inc. (NASDAQ:TBBK) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 442,715 shares of the bank’s stock after buying an additional 46,115 shares during the period. Jupiter Asset Management Ltd. owned about 0.85% of Bancorp worth $16,717,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Bancorp by 21.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock valued at $39,984,000 after acquiring an additional 184,647 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Bancorp by 6.7% during the fourth quarter. Brown Advisory Inc. now owns 1,542,256 shares of the bank’s stock valued at $59,469,000 after purchasing an additional 96,551 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after purchasing an additional 70,361 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock valued at $60,545,000 after buying an additional 70,178 shares during the last quarter. Finally, Stieven Capital Advisors L.P. bought a new stake in Bancorp in the 2nd quarter worth about $1,322,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

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

Bancorp Price Performance

NASDAQ TBBK opened at $47.57 on Friday. The company has a 50-day moving average price of $47.87 and a 200-day moving average price of $39.06. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $53.48. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.33 billion, a P/E ratio of 12.93 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The business had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. Equities research analysts anticipate that The Bancorp, Inc. will post 4.42 earnings per share for the current year.

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.