Legato Capital Management LLC Decreases Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Legato Capital Management LLC reduced its position in The Bancorp, Inc. (NASDAQ:TBBK) by 77.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,015 shares of the bank’s stock after selling 24,396 shares during the period. Legato Capital Management LLC’s holdings in Bancorp were worth $369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new position in shares of Bancorp during the 3rd quarter worth $514,000. Lord Abbett & CO. LLC raised its position in Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after acquiring an additional 56,959 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Bancorp by 55.9% in the third quarter. Raymond James & Associates now owns 50,276 shares of the bank’s stock valued at $2,690,000 after purchasing an additional 18,027 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Bancorp in the third quarter valued at approximately $2,080,000. Finally, Entropy Technologies LP increased its stake in shares of Bancorp by 175.4% during the 3rd quarter. Entropy Technologies LP now owns 18,997 shares of the bank’s stock worth $1,016,000 after purchasing an additional 12,100 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $60.49 on Friday. The company has a market cap of $2.90 billion, a P/E ratio of 14.07 and a beta of 1.49. The business has a fifty day simple moving average of $55.85 and a 200-day simple moving average of $53.66. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS 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%. Equities research analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Keefe, Bruyette & Woods lifted their price objective on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler upped their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, Raymond James reiterated an “outperform” rating and set a $67.00 price target (up from $60.00) on shares of Bancorp in a report 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.