Alberta Investment Management Corp Increases Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Alberta Investment Management Corp raised its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 36.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 84,416 shares of the bank’s stock after buying an additional 22,749 shares during the quarter. Alberta Investment Management Corp’s holdings in Bancorp were worth $4,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TBBK. Sanctuary Advisors LLC grew its holdings in shares of Bancorp by 111.9% during the fourth quarter. Sanctuary Advisors LLC now owns 11,067 shares of the bank’s stock worth $638,000 after purchasing an additional 5,845 shares in the last quarter. Principal Financial Group Inc. lifted its position in Bancorp by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after buying an additional 9,748 shares during the last quarter. Congress Asset Management Co. lifted its position in Bancorp by 4.6% in the 4th quarter. Congress Asset Management Co. now owns 223,154 shares of the bank’s stock worth $11,745,000 after buying an additional 9,721 shares during the last quarter. New York State Teachers Retirement System lifted its position in Bancorp by 19.7% in the 4th quarter. New York State Teachers Retirement System now owns 26,815 shares of the bank’s stock worth $1,411,000 after buying an additional 4,412 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its position in Bancorp by 5.0% in the 4th quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after buying an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Down 1.2 %

NASDAQ TBBK opened at $60.02 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The stock’s 50-day moving average price is $56.14 and its 200-day moving average price is $53.89. The company has a market capitalization of $2.88 billion, a P/E ratio of 13.96 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share 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%. On average, equities research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TBBK has been the subject of several recent research reports. Raymond James reiterated an “outperform” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, January 12th. Piper Sandler boosted their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Bancorp Company 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.