Kennedy Capital Management LLC Boosts Position in The Bancorp, Inc. $TBBK

Kennedy Capital Management LLC grew its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 57.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 281,256 shares of the bank’s stock after acquiring an additional 102,534 shares during the period. Kennedy Capital Management LLC’s holdings in Bancorp were worth $21,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in Bancorp by 8.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock valued at $157,000 after acquiring an additional 169 shares in the last quarter. Bessemer Group Inc. lifted its stake in Bancorp by 78.6% in the 3rd quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in Bancorp by 2.0% in the 3rd quarter. Arete Wealth Advisors LLC now owns 9,551 shares of the bank’s stock valued at $715,000 after purchasing an additional 191 shares during the period. Osaic Holdings Inc. grew its position in shares of Bancorp by 3.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after purchasing an additional 197 shares in the last quarter. Finally, Rothschild Investment LLC grew its position in shares of Bancorp by 213.6% during the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock valued at $26,000 after purchasing an additional 235 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Trading Up 1.0%

Shares of TBBK traded up $0.53 during mid-day trading on Friday, reaching $53.83. The company’s stock had a trading volume of 42,349 shares, compared to its average volume of 650,050. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $81.65. The stock has a market cap of $2.27 billion, a PE ratio of 10.94 and a beta of 1.31. The company’s fifty day moving average price is $61.87 and its two-hundred day moving average price is $67.92. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.18). The business had revenue of $132.21 million for the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a net margin of 25.94% and a return on equity of 28.91%. On average, analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Insider Transactions at Bancorp

In related news, Director Matthew Cohn acquired 680 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $62.14 per share, for a total transaction of $42,255.20. Following the completion of the acquisition, the director owned 3,655 shares in the company, valued at approximately $227,121.70. This represents a 22.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dominic C. Canuso bought 2,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was bought at an average cost of $60.54 per share, with a total value of $121,080.00. Following the purchase, the chief financial officer owned 16,169 shares in the company, valued at $978,871.26. The trade was a 14.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 9,080 shares of company stock worth $548,933. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TBBK. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Piper Sandler started coverage on Bancorp in a research note on Thursday. They issued an “overweight” rating and a $66.00 target price on the stock. Bank of America set a $60.00 price target on Bancorp in a report on Wednesday, January 21st. Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bancorp Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.