Quest Partners LLC Buys 16,722 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Quest Partners LLC increased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 1,672,200.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,723 shares of the bank’s stock after purchasing an additional 16,722 shares during the quarter. Quest Partners LLC’s holdings in Bancorp were worth $631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TBBK. Entropy Technologies LP lifted its holdings in shares of Bancorp by 256.2% in the 1st quarter. Entropy Technologies LP now owns 23,375 shares of the bank’s stock worth $782,000 after buying an additional 16,812 shares during the period. Jane Street Group LLC raised its holdings in shares of Bancorp by 129.0% in the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock valued at $4,180,000 after acquiring an additional 70,361 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Bancorp by 63.6% in the fourth quarter. Rafferty Asset Management LLC now owns 73,827 shares of the bank’s stock valued at $2,847,000 after acquiring an additional 28,699 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Bancorp in the first quarter worth about $1,008,000. Finally, BNP Paribas Financial Markets grew its holdings in Bancorp by 51.6% during the 1st quarter. BNP Paribas Financial Markets now owns 71,837 shares of the bank’s stock worth $2,404,000 after acquiring an additional 24,453 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

TBBK has been the subject of several recent research reports. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler boosted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a report on Monday, July 29th.

Bancorp Stock Performance

TBBK stock opened at $46.83 on Thursday. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $53.48. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 12.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.88. The firm has a 50-day simple moving average of $47.69 and a two-hundred day simple moving average of $39.01.

Bancorp (NASDAQ:TBBK) last posted 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). Bancorp had a net margin of 31.52% and a return on equity of 26.81%. The firm had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. On average, equities analysts forecast that The Bancorp, Inc. will post 4.42 EPS 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.