Cynosure Group LLC Trims Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Cynosure Group LLC cut its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 16.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,739 shares of the bank’s stock after selling 1,123 shares during the quarter. Cynosure Group LLC’s holdings in Bancorp were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TBBK. Cerity Partners LLC boosted its stake in Bancorp by 8.0% during the third quarter. Cerity Partners LLC now owns 25,904 shares of the bank’s stock worth $1,386,000 after buying an additional 1,913 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Bancorp by 169.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,165 shares of the bank’s stock worth $2,844,000 after acquiring an additional 33,413 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Bancorp during the 3rd quarter worth approximately $1,024,000. Paloma Partners Management Co acquired a new stake in Bancorp in the 3rd quarter valued at approximately $487,000. Finally, Point72 DIFC Ltd purchased a new stake in Bancorp in the third quarter valued at approximately $54,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Up 2.3 %

Shares of NASDAQ TBBK opened at $54.76 on Thursday. The stock has a market cap of $2.63 billion, a P/E ratio of 12.73 and a beta of 1.59. The business’s fifty day simple moving average is $56.09 and its 200-day simple moving average is $54.91. 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.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping 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, equities analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.