Thrivent Financial for Lutherans Raises Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Thrivent Financial for Lutherans boosted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 36.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 63,406 shares of the bank’s stock after acquiring an additional 16,858 shares during the quarter. Thrivent Financial for Lutherans owned about 0.12% of Bancorp worth $2,394,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TBBK. GAMMA Investing LLC raised its stake in shares of Bancorp by 60.5% in the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after purchasing an additional 291 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Bancorp by 345.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after buying an additional 1,272 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Bancorp during the 2nd quarter valued at approximately $216,000. Arcus Capital Partners LLC purchased a new stake in shares of Bancorp in the 1st quarter valued at $221,000. Finally, SG Americas Securities LLC increased its stake in shares of Bancorp by 15.1% in the first quarter. SG Americas Securities LLC now owns 6,689 shares of the bank’s stock worth $224,000 after acquiring an additional 877 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 1.7 %

TBBK stock opened at $53.50 on Tuesday. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $54.97. 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’s fifty day moving average is $49.97 and its 200 day moving average is $40.12. The firm has a market cap of $2.80 billion, a PE ratio of 14.54 and a beta of 1.45.

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). The business had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. On average, research analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TBBK. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Finally, Piper Sandler raised their target price on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th.

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.