The Bancorp, Inc. (NASDAQ:TBBK) Holdings Boosted by Congress Asset Management Co.

Congress Asset Management Co. boosted its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,154 shares of the bank’s stock after acquiring an additional 9,721 shares during the period. Congress Asset Management Co. owned about 0.47% of Bancorp worth $11,745,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. Arcus Capital Partners LLC raised its holdings in shares of Bancorp by 5.0% during the fourth quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock valued at $347,000 after buying an additional 315 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Bancorp by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,403 shares of the bank’s stock valued at $284,000 after buying an additional 539 shares during the last quarter. KBC Group NV raised its holdings in shares of Bancorp by 40.9% during the fourth quarter. KBC Group NV now owns 2,137 shares of the bank’s stock valued at $112,000 after buying an additional 620 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Bancorp by 2.3% during the third quarter. Natixis Advisors LLC now owns 30,551 shares of the bank’s stock valued at $1,634,000 after buying an additional 673 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $60.49 on Monday. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 14.07 and a beta of 1.49. The stock’s 50 day moving average price is $55.85 and its 200 day moving average price is $53.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86.

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

Wall Street Analyst Weigh In

TBBK has been the topic of a number of recent analyst reports. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th. Raymond James reissued an “outperform” rating and set a $67.00 target price (up previously from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd.

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.